Vijaya Diagnostic IPO: ₹1,895.04 crore public issue is going to open for subscription on 1st September 2021 and it will remain open for bidding till 3rd September 2021. The promoters of this diagnostic company have fixed its price band at ₹522 to ₹531 and the public issue is 100 per cent Offer for Sale (OFS) in nature. Shares of Vijaya Diagnostic are available today at a premium of ₹10 in the grey market but if we go by the market observers' view, 100 per cent OFS may hit the enthusiasm of IPO investors.
1] Vijaya Diagnostic IPO GMP: Shares of Vijaya Diagnostic are available today at a premium of ₹10 in the grey market, which is almost half of its previous day's grey market premium of ₹18. According to market observers, Vijaya Disgnostic IPO grey market premium has been nosediving in the grey market and it has come down from ₹40 to ₹10 today in the last 5 days. They said that 100 per cent OFS has probably not gone down well in the grey market.
2] Experts' view: On whether one should subscribe this public issue or not Abhay Doshi, founder at UnlistedArena.com said, "On the upper band of ₹531, the asking P/E comes at around 64x which seems to be on higher side, also the issue is purely OFS and recent fiasco in primary markets have tumbled the sentiments of investors so it would be keen to watch for the subscription rush."
Arijit Malakar, Head of Research at Ashika Stock Broking said, "Vijaya Diagnostic is one of the largest integrated diagnostic player in Southern India, backed by private equity player Kedaara Capital. Company's operating and financial metrics are way ahead of other leading diagnostic players. Company commanded industry leading EBITDA Margin because of its operating leverage. Company's revenue realization per patient is around ₹1200, which is nearly 40 per cent higher from other players."
3] Vijaya Diagnostic IPO price: Promoters of the company have fixed price band of the public issue at ₹522 to ₹531.
4] Vijaya Diagnostic IPO size: Promoters of the company aims to raise ₹1,895.04 crore from the public issue, which is 100 per cent OFS in nature.
5] Vijaya Diagnostic IPO allotment date: Tentative date for Vijaya Diagnostic share allotment is 8th September 2021.
6] Vijaya Diagnostic IPO listing date: Expected date for listing of Vijaya Diagnostic shares is 14th September 2021. It will be listed on both NSE and BSE.
7] Vijaya Diagnostic IPO lot size: A bidder will have to apply for the public issue in lots and one lot will comprise 28 Vijaya Diagnostic shares. An applicant can apply for minimum on lot and maximum 13 lots of the public issue.
8] Vijaya Diagnostic IPO investment limit: As a bidder can apply for minimum one lot and maximum 13 lots, a bidder can invest minimum ₹14,868 ( ₹531 x 28) while the maximum amount that a bidder can invest in this IPO is ₹1,93,284 [( ₹531 x 28) x 13].
9] Issue type: Vijaya Diagnostic IPO is purely a book build issue with face value of Re 1 per equity share.
10] Vijaya Diagnostic IPO Promoter Holding: Promoters' of the company currently holds 59.78 per cent shares that will go down to 54.78 per cent after listing.
