Vijaya Diagnostic
Vijaya Diagnostic files papers to raise funds via IPO
New Delhi: Vijaya Diagnostic Centre, a healthcare chain, has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial share-sale.
The initial public offer (IPO) is entirely an offer for sale of 35,688,064 equity shares by the promoters, Dr S Surendranath Reddy and investors Karakoram Ltd and Kedaara Capital Alternative Investment Fund, according to its draft red herring prospectus (DRHP).
The initial share-sale will see stake dilution of 35 per cent by promoter and existing shareholders.
Kedaara Capital-backed Vijaya Diagnostic Centre offers one-stop solution for pathology and radiology testing services to customers through its extensive network, which consists of 80 diagnostic centres and 11 reference laboratories across 13 cities and towns in the states of Telangana and Andhra Pradesh, and the National Capital Region and Kolkata.
For the financial year ended March 2021, the company posted a profit of Rs 84.91 crore compared to Rs 62.5 crore in the preceding fiscal. Its total income rose to Rs 388.59 crore from Rs 354.18 crore.
ICICI Securities, Edelweiss Financial Services and Kotak Mahindra Capital Company have been appointed as investment bankers for advising the company on its IPO.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
