IPO of the Vijaya Diagnostics Center: The IPO of the Vijaya Diagnostics Center sees 9% bids on day 1 so far
NEW DELHI: The primary market issue of Vijaya Diagnostics Center, a company with a good presence in South India, met with subdued investor interest in the first hour of bidding on Wednesday.
The initial public offering (IPO) was subscribed with 9 percent until 11 a.m. There were offers for 23.01,404 shares with a total issue volume of 2,50,26,646 shares.
The price range for this has been set at Rs 522-531 per share with a face value of Re 1 each. Shareholders in Hyderabad-based Vijaya Diagnostic and the Company intend to raise Rs 1,895 crore through the primary offer.
Given the adjusted EPS of Rs. 8.26 after the FY-21 issue, the company will trade at a P / E of 64.26 with a market cap of Rs 5,414 billion, analysts said. His colleagues, namely Dr. Lal Path Labs and
are trading at a PER of 80.66 and 56.55 respectively.
“We are rating this IPO as ‘Subscribe’ because the company is one of the fastest growing diagnostics chains with a dominant position in South India and is well positioned to capitalize on the high growth in the Indian diagnostics industry. Plus, it’s available at a reasonable valuation compared to its peers, ”said the Marwadi Shares and Finance analyst.
The Vijaya Diagnostics Center offers a complete solution for pathology and radiology testing services. The company offers 740 routine and 870 specialized pathological tests, as well as 220 basic and 320 advanced radiological tests.
It has 81 diagnostic centers and 11 reference laboratories in 13 cities and municipalities. The company generated most of its revenue from operations in its core regions – Hyderabad and the rest of Telangana and Andhra Pradesh.