Vijaya Diagnostic plans to expand operations in Eastern India
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Vijaya Diagnostic Centre, whose initial public offering (IPO) will open on September 1, said the company will be focusing on deepening presence in Andhra Pradesh and Telangana, its core markets, and further expand operations in adjacent states and Eastern India with Kolkata as epicentre.
The integrated diagnostic chain said it will supplement organic growth with selective acquisitions in its focus markets.
Vijaya has 11 reference labs and 81 diagnostic centres with a hub-spoke model mainly spread across Andhra Pradesh and Telangana and a small presence in Kolkata. Vijaya offers a comprehensive range of approximately 740 routine and 870 specialised pathology tests, as of June 2021.
Vijaya Diagnostic will be the second IPO of a diagnostic lab chain to hit the market in less than a month. Earlier this month Krsnaa Diagnostics IPO was subscribed 64.40 times. The price band of the offer has been fixed at Rs 522 to Rs 531 per equity share.
The size of the IPO at the upper price band is Rs 1,895 crore. The offer will open on September 1 and close on September 3. Bids can be made for a minimum of 28 equity shares and in multiples of 28 equity shares thereafter.
