Vijaya Diagnostic Centre IPO Subscribed 4.5 Times On Day 3

Vijaya Diagnostic Centre Ltd.'s initial share sale subscribed 4.5 times on its final day, primarily led by demand from institutional investors.

The IPO got off to a slow start, with the issue subscribing 0.47 and 0.30 times on its first and second days of bidding, respectively. This is the tenth-least subscribed issue of the year so far.

The diagnostic services provider was seeking a market of Rs 5,414.4 crore at the upper end of the price band of Rs 522-531 apiece.

The IPO was an offer-for-sale of up to 35.7 lakh equity shares, or up to 35% of its total shareholding. The company won't receive any proceeds.

Subscription Details: Day 3

The IPO was subscribed 4.54 times as of 5 p.m. on Sept. 3.

• Institutional investors: 13.07 times.

• Non-institutional investors: 1.32 times.

• Retail investors: 1.09 times.

• Employees: 0.98 times.

Research Reports On Vijaya Diagnostic Centre IPO:

• Investment Rationale, Strategy, Risks, Concerns: KRChoksey

• Well Positioned To Leverage High Growth In Indian Diagnostics Industry: ICICI Direct

• Healthy Outlook, Steady Cash Generation Augur Well: Reliance Securities

Watch BloombergQuint's IPO Adda With Vijaya Diagnostic Centre: