Vijaya Diagnostic Centre IPO
Vijaya Diagnostic Centre IPO — date, price band, lot size & details 2021
Vijaya Diagnostic Centre listed on 14 Sep 2021 at ₹540, 1.7% above the ₹531 issue price.
Vijaya Diagnostic Centre is the largest integrated diagnostic chain in southern India by operating revenue, offering pathology and radiology tests. Its total income was Rs 388.59 crore in FY2021.
Stock price
Vijaya Diagnostic Centre is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 10 November.
- Open 01 Sep 2021
- Close 03 Sep 2021
- Allotment 08 Sep 2021
- Refund/credit 09 Sep 2021
- Listing 14 Sep 2021
Issue summary
The terms of the offer, as filed.
| IPO Dates | 1 to 3 Sep, 2021 |
|---|---|
| Price Band | ₹522 – ₹531 |
| Face Value | ₹1 |
| Lot Size | 28 Shares |
| Issue Size | ₹1894.43 Cr |
| Sale Type | OFS only |
| Listing On | BSE, NSE |
| Employee Discount | Rs 52.00 per share |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,868 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 28 shares at the ₹531 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 28 | ₹14,868 |
| Retail (max) | 13 | 364 | ₹1,93,284 |
| S-HNI (min) | 14 | 392 | ₹2,08,152 |
| S-HNI (max) | 67 | 1,876 | ₹9,96,156 |
| B-HNI (min) | 68 | 1,904 | ₹10,11,024 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 302.94 crore in FY2019 to Rs 388.59 crore in FY2021.
- 02Profit after tax rose from Rs 46.27 crore in FY2019 to Rs 84.91 crore in FY2021.
- 03EBITDA was Rs 177.88 crore in FY2021, a margin of about 46% of total income.
- 04Borrowing was almost nil, at Rs 1.19 crore on 30 June 2021.
- 05It ran 81 diagnostic centres and 11 reference laboratories on 30 June 2021.
Risks · 5
- 01The whole Rs 1,894.43 crore issue was offer for sale, so no money went to the company.
- 02The pre-issue P/E was 63.75 at the upper band of Rs 531, based on EPS of Rs 8.33.
- 03Hyderabad, the rest of Telangana and Andhra Pradesh gave 96.20% of revenue in fiscal 2021, so the business depends on one region.
- 04Diagnostics is a competitive field with national and local chains, and it ran only 81 centres on 30 June 2021.
- 05Promoters and the promoter group held 59.78% before the issue and 54.78% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Vijaya Diagnostic Centre offer document.
| Metric | 30 Jun 2021 | 31 Mar 2021 | 31 Mar 2020 | 31 Mar 2019 |
|---|---|---|---|---|
| Assets | 604.58 | 540.94 | 482.26 | 406.43 |
| Total Income | 125.97 | 388.59 | 354.18 | 302.94 |
| Profit After Tax | 33.33 | 84.91 | 62.51 | 46.27 |
| EBITDA | 60.14 | 177.88 | 147.98 | 118.48 |
| NET Worth | 392.91 | 359.23 | 274.14 | 207.01 |
| Reserves and Surplus | 382.13 | 354.47 | 270.01 | 200.44 |
| Total Borrowing | 1.19 | 4.47 | 32.84 | 42.43 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Vijaya Diagnostic Centre RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Vijaya Diagnostic Centre IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹8.33 | ₹13.07 |
| P/E Ratio (x) | 63.75 | 40.63 |
| Market Cap at Offer Price (₹ Cr) | ₹2,124.64 | ₹1,354.11 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹531 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
How the company intends to use the proceeds of the issue.
Information about the usage of proceeds from the Vijaya Diagnostic Centre IPO will be updated shortly.
About the company
It offers pathology and radiology testing under one roof, including about 740 routine tests, 870 specialised pathology tests, 220 basic tests and 320 advanced radiology tests, plus health and wellness packages.
On 30 June 2021 it had 81 diagnostic centres and 11 reference laboratories across 13 cities and towns in Telangana, Andhra Pradesh, the National Capital Region and Kolkata. Hyderabad, the rest of Telangana and Andhra Pradesh gave 96.20% of revenue from operations in fiscal 2021.
The IPO was Rs 1,894.43 crore and was entirely an offer for sale, so the company received none of the money.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Vijaya Diagnostic Centre IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
ICICI Securities
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Edelweiss Financial Services Ltd
8 issues handledBest listing: Indigo Paints (+75.0%). Weakest: Lodha Developers (-10.3%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Vijaya Diagnostic Centre?
The current Grey Market Premium is ₹5, or 1% over the issue price.
What is the Vijaya Diagnostic Centre IPO price band?
₹522 to ₹531, on a face value of ₹1.
When is the allotment?
The basis of allotment is 8 September 2021, with listing on 14 September 2021.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
