Vijaya Diagnostic Centre IPO: The IPO of Vijay Diagnostic Center will open for subscription on September 1 next month and will be able to place bids till September 3. However, no new shares will be issued under this issue and 3.56 crore shares will be issued through IPO under Offer for Sale (OFS). According to the information, under OFS, Dr S Surendranath Reddy will sell 50.95 lakh shares, Karakoram Limited 2.94 crore equity shares and Kedara Capital Alternative Investment Fund-Kedara Capital AIF1 will sell maximum 11.02 lakh shares. 1.5 lakh equity shares are reserved for employees.
ICICI Securities, Edelweiss Financial Services and Kotak Mahindra Capital Company have been selected as investment bankers for the issue and KFin Technologies Private Ltd is the registrar. After successful listing, it will join the league of Dr Lal Path Labs and Metropolis Healthcare.
Stock Tips: Nifty showing bullish trend, make such a strategy to invest in these 4 stocks including Reliance and SBI
Services available through 80 diagnostic centers
Vijay Diagnostic Center provides Pathology and Radiology Testing Services to its clients. It provides services to its customers through 80 Diagnostic Centers and 11 Reference Laboratories in 13 cities and towns of Telangana and Andhra Pradesh, Delhi-NCR and Kolkata. In the last financial year 2020-21, the company had a profit of Rs 84.94 crore while in its last financial year 2019-20 it was Rs 62.5 crore. The total income of the company increased from Rs 354.18 crore to Rs 388.59 crore in the last two financial years.
Better growth assessment in diagnostic services
Diagnostic services account for 8-14 per cent of health-related expenses. Its market share regarding treatment is increasing continuously as diagnostic services are required from pre-treatment till post-treatment. This industry has shown good growth in the last few years. Between the financial years 2020 and 2023, the industry is expected to grow at a CAGR of 12-13 percent (Compound Annual Growth Rate) to reach Rs 92 thousand-98 thousand crores. However, the CAGR of this industry can reach 14-16 per cent between FY 2021-2023 as the growth slowed down due to Corona epidemic in FY21.
(Article: Surbhi Jain)
Get Business News ,, latest India News ,, and other breaking news on share market, investment scheme and much more on Business Khabar. Like us on Facebook, Follow us on Twitter for latest financial news and share market updates.
.