Vijaya Diagnostic IPO: Opening, closing, allotment finalisation, listing and all that an investor should know

Vijaya Diagnostic IPO: Healthcare chain Vijaya Diagnostic Centre on Tuesday said it has raised a little over Rs 566 crore from anchor investors ahead of its public offering (IPO). The company has decided to allocate a total of 1,06,61,41 equity shares to 29 anchor investors at Rs 531 apiece, aggregating the transaction size to Rs 566.12 crore , according to a circular uploaded on BSE website.

Here are all the Vijaya Diagnostic IPO important dates - Opening, closing, allotment finalisation, listing and all that an investor should know:-
 
Offer start: 1st Sept
 
Offer end: 3rd Sept
 
Allotment finalisation: 8th Sept
 
Refund initiation: 9th Sept
 
Demat transfer: 13th Sept
 
Listing: 14th Sept
 
Mandate end: 21st Sept 

Fidelity Management Research, Fidelity Investments, Aberdeen, Abu Dhabi Investment Authority, Kuwait Investment Authority and Government Pension Fund Global are among the anchor investors.

In addition, ICICI Prudential Mutual Fund (MF), Nippon India MF, Franklin Templeton MF, SBI Life Insurance and Kotak Life Insurance too participated in the anchor book.

Vijaya Diagnostic IPO:

The IPO is entirely an offer for sale of 35,688,064 equity shares by the promoter, Dr S Surendranath Reddy and investors -- Karakoram Ltd and Kedaara Capital Alternative Investment Fund-Kedaara Capital AIF I.

As a part of the offer for sale, Reddy will sell 50.98 lakh equity shares, Karakoram will offload 2.95 crore equity shares and Kedaara Capital will divest 11.02 lakh shares.

The issue, with a price band of Rs 522-531 a share, will open for public subscription during September 1-3.

At the upper end of the price band, the initial share-sale is expected to fetch about Rs 1,895 crore.

The initial share-sale will see stake dilution of 35 per cent by promoter and existing shareholders.

At present, promoter and promoter group own 59.78 per cent shareholding in the company. This included Reddy's 37.78 per cent stake.

Karakoram and Kedaara Capital hold 38.56 per cent and 1.44 per cent stake, respectively, in Vijaya Diagnostic.

Half of the issue size has been reserved for qualified institutional investors (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.

Investors can bid for a minimum of 28 equity shares and in multiples of 28 equity shares thereafter.

Vijaya Diagnostic Centre offers a 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.

ICICI Securities, Edelweiss Financial Services and Kotak Mahindra Capital Company are the book running lead managers to the issue.

Earlier this month, Krsnaa Diagnostics raised a little over Rs 1,213 crore through its IPO.