Vijaya Diagnostic Centre Ltd, a leading integrated diagnostic chain in southern India, has filed its Draft Red Hearing Prospectus with Securities and Exchange Board of India (SEBI).

Through the initial public issue, according to sources, the company aims to list the equity shares on the stock exchanges and make “Offer of Sale” of up to 3.57 crore (3,56,88,064) equity shares by the selling shareholders.

The ‘Offer for Sale’ comprises up to 0.51 crore (50,98,296) equity shares by Dr. S Surendranath Reddy (Promoter Selling Shareholder), up to 2.95 crore (2,94,87,290) equity shares by Karakoram Ltd and up to 0.11 crore (11,02,478) equity shares by Kedaara Capital Alternative Investment Fund- Kedaara Capital AIF 1.

In 2016, Kedaara Capital had picked up a 40 per cent stake in the diagnostic chain for about ₹400 crore.

The face value of equity share is ₹1 each. The company will not receive any proceeds from the Offer.

The diagnostics company, founded in 2002 as a private company, offers about 740 routine and 870 specialized pathology tests and approximately 220 basic and 320 advanced radiology tests that cover a range of specialties and disciplines.

The company also offers a broad spectrum of health and wellness packages through its ‘hub and spoke’ model, whereby specimens are collected across multiple locations within a catchment area or a region for delivery to our reference laboratories for diagnostic testing.

It has a network of 80 diagnostics centres and 11 reference laboratories across 13 cities and towns in Telangana, Andhra Pradesh, National Capital Region and Kolkata.

ICICI Securities Ltd, Edelweiss Financial Services Ltd and Kotak Mahindra Capital Company Ltd are the Book Running Lead Managers to the issue.

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