Local private equity firm Kedaara Capital-backed Vijaya Diagnostic Centre's initial public offering will be an offer for sale (OFS) of 35.69 million shares by shareholders and promoters from September 1-3.
An OFS comprises up to 5.1 million shares by Dr S Surenranath Reddy, up to 29.49 million shares by Karakoram Ltd, and up to 1.10 million shares by Kedaara Capital Alternative Investment Fund - Kedaara Capital AIF I.
ICICI Securities, Edelweiss Financial Services and Kotak Mahindra Capital Co Ltd are the lead managers to the issue.
For fiscal year 2021, Vijaya posted a revenue of Rs 376.75 crore versus Rs 338.82 crore a year ago. Net profit for the year stood at Rs 84.91 crore against Rs 62.51 crore last year.
The firm’s bank balances are at Rs 200.11 crore which are significantly higher than the outstanding debt of Rs 4.47 crore as of March 2021.
Vijaya is the largest integrated diagnostic chain in southern India, by operating revenue, and also one of the fastest-growing diagnostic chains by revenue for fiscal year 2020. It offers a one-stop solution for pathology and radiology testing services through a network which consists of 80 diagnostic centres and 11 reference laboratories across 13 cities and towns in Telangana, Andhra Pradesh, National Capital Region and Kolkata.
As of March 2021, The firm offered approximately 740 routine and 870 specialised pathology tests and about 220 basic and 320 advanced radiology tests that cover a range of specialties and disciplines.