Vijaya Diagnostic rises sharply after making tepid listing

Our Bureau Mumbai | Updated on September 14, 2021

Ruling at ₹588 against IPO price of ₹531

The shares of Vijaya Diagnostic Centre made a tepid debut on the bourses on Tuesday, listing at 2 per cent premium over the issue price of ₹531. The stock listed at ₹542.30 on the BSE, up ₹11.3 or 2.13 per cent higher than the issue price.

However, the stock of the Hyderabad-based company managed to gain some momentum post listing. At 10:32, after recording a high of 588.05, it was trading at ₹576.50, up ₹45.50 or 8.57 per cent over the issue price.

It opened 1.69 per cent higher at ₹540 on the NSE and was currently trading at ₹576.65.

Vijaya Diagnostics gets ₹566 cr from anchors

The ₹1,895-crore initial public offering (IPO) of the company was subscribed 4.54 times. The company has fixed the price band for the issue at ₹522-531 a share.

Complete offer for sale

Qualified institutional buyers’ portion received bids totalling 13.07 times, while retail investors quota saw subscription of 1.09 times. The portion reserved for non-institutions or HNIs received bids for 1.32 times, with employees subscribing for 98 per cent of their quota.

IPO Screener: Vijaya Diagnostic, Ami Organics issue closes today

Ahead of the issue, Vijaya Diagonistic had raised ₹566.12 crore from anchor investors. The company has finalised allocation of about 1.07 crore shares at ₹531 a share to a host of anchor investors, who included Fidelity International, India Fund Inc, Aberdeen, Goldman Sachs, Axis MF, Aditya BIrla Sun Life, SBI MF, Nippon Life and Mirae MF, for their various schemes.

The IPO is a complete offer for sale (OFS) by the selling shareholders — promoter Dr S Surendranath Reddy, and investors Kedaara Capital AIF and Karakoram Capital AIF 1.

Published on September 14, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.

You May Also Like