Vijaya Diagnostic Centre IPO Subscribed 0.30 Times On Day 1
Vijaya Diagnostic Centre Ltd. launched its three-day initial public offering on Sept. 1 as existing shareholders look to pare stake in the company.
The firm's issue was subscribed 0.30 times at the end of first day.
The diagnostic services provider is selling shares at Rs 522-531 apiece, seeking a market value of Rs 5,414.4 crore at the upper end of the price band.
The IPO is 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. Private equity investors Karakoram Ltd. and Kedaara Capital will sell 30% and promoter shareholder Dr. S Surendranath Reddy is offering 5%. Following the initial share sale, private investor stake will stand at 10%.
Subscription Details: Day 1
The IPO was subscribed 0.3 times as of 5 p.m. on Sept. 1.
Institutional investors: 0.23 times
Non-institutional investors: 0.01 times
Retail investors: 0.46 times
Employees: 0.24 times