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  3. Vijaya Diagnostics IPO

About Vijaya Diagnostics IPO

Founded in 1981, Vijaya Diagnostics is one of the emerging diagnostics service chains from Southern India. Besides its prominence in the states of Andhra Pradesh and Telangana, Vijaya Diagnostics also has branches in Haryana and Delhi NCR region.

As a comprehensive diagnostics service provider, the company has 80 state-of-the-art centres across 13 cities of India. Vijaya Diagnostics provides a one-stop solution for radiology and pathology services. It has a total employee strength of 2200, and till 31 March 2021, it has served about 2.63 million customers.

The company is now expanding its footprints in other parts of the country. Furthermore, as of 31 March 2021, Vijaya Diagnostics has Patient Safety & Quality of Care accreditation from NABH and accreditation from the National Accreditation Board for Testing and Calibration Laboratories.

Vijaya Diagnostics IPO Objectives

- Achieve the benefits of listing on an exchange
- To complete this OFS of 35,688,064 equity shares

Vijaya Diagnostics IPO - Details

The initial public offering of Vijaya Diagnostics is opening on 1 September 2021 and closes on 3 September 2021. After the approval on their DRHP by market regulator SEBI, the company will now conduct a public offering comprising only OFS.

This offer for sale will include 3.56 crore shares from current stakeholders. Here are the particulars –
50.98 lakh shares from Dr S Surendranath Reddy
2.94 crores shares from Karakoram Ltd
11.20 lakh shares from Kedaara Capital AIF 1 or Kedaara Capital Alternative Investment Fund

Apart from these, this public issue will also comprise up to 1.5 lakh equity shares for employees. Moving ahead, Vijaya Diagnostics has appointed the following investment banks as the lead managers of its IPO –
1. Kotak Mahindra Capital Company
2. Edelweiss Financial Services Limited
3. ICICI Securities Limited Moreover, the company has appointed KFin Technologies Private Limited as the registrar of this public offering.

Opening Date

Sep 1, 2021

Closing Date

Sep 3, 2021

Price Band

₹522 to ₹531

per equity share

Issue Size

₹1862 - ₹1894 Cr

Face Value

₹ 1

per equity share

Market Lot

28 Shares

Opening Date

Sep 1, 2021

Closing Date

Sep 3, 2021

Price Band

₹522 to ₹531

per equity share

Issue Size

₹1862 - ₹1894 Cr

Face Value

₹ 1

per equity share

Market Lot

28 Shares

Listing at NSE, BSE

Vijaya Diagnostics IPO Important Dates

IPO Open Date 1 September 2021
IPO Close Date 3 September 2021
Basis Of Allotment Date 8 September 2021
Initiation Of Refunds 9 September 2021
Credit Of Shares To
Demat ACcount		 13 September 2021
IPO Listing Date 14 September 2021

Vijaya Diagnostics IPO Latest News and Subscription Status Today [Live]

Day 3 : 03 Sep 2021
Day 2 : 02 Sep 2021
Day 1 : 01 Sep 2021

At 05:05 p.m.

- This IPO has been subscribed 4.54x by 5:05 PM. on Day 3
- It is a public issue of 2,50,26,646 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 13.07x
- (NII) Non-institutional buyers: 1.32x
- (RII) Retail Individual buyers: 1.09x
- Employees: 0.98x

 

At 04:15 p.m.

- This IPO has been subscribed 1.37x by 4:15 PM. on Day 3
- It is a public issue of 2,50,26,646 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 2.98x
- (NII) Non-institutional buyers: 0.25x
- (RII) Retail Individual buyers: 0.95x
- Employees: 0.73x

 

At 03:05 p.m.

- This IPO has been subscribed 1.37x by 2:05 PM. on Day 3
- It is a public issue of 2,50,26,646 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 2.98x
- (NII) Non-institutional buyers: 0.25x
- (RII) Retail Individual buyers: 0.95x
- Employees: 0.73x

 

At 02:05 p.m.

- This IPO has been subscribed 1.37x by 2:05 PM. on Day 3
- It is a public issue of 2,50,26,646 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 2.98x
- (NII) Non-institutional buyers: 0.25x
- (RII) Retail Individual buyers: 0.95x
- Employees: 0.73x

 

At 12:50 p.m.

- This IPO has been subscribed 0.79x by 12:50 PM. on Day 3
- It is a public issue of 2,50,26,646 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 1.05x
- (NII) Non-institutional buyers: 0.18x
- (RII) Retail Individual buyers: 0.90x
- Employees: 0.70x

 

At 11:50 a.m.

- This IPO has been subscribed 0.51x by 11:50 AM. on Day 3
- It is a public issue of 2,50,26,646 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.67x
- (NII) Non-institutional buyers: 0.14x
- (RII) Retail Individual buyers: 0.85x
- Employees: 0.56x

 

At 10:40 a.m.

- This IPO has been subscribed 0.51x by 10:40 AM. on Day 3
- It is a public issue of 2,50,26,646 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.32x
- (NII) Non-institutional buyers: 0.06x
- (RII) Retail Individual buyers: 0.81x
- Employees: 0.55x

 

At 05:10 p.m.

- This IPO has been subscribed 0.47x by 5:10 PM. on Day 2
- It is a public issue of 2,50,26,646 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.32x
- (NII) Non-institutional buyers: 0.05x
- (RII) Retail Individual buyers: 0.74x
- Employees: 0.52x

 

At 03:40 p.m.

- This IPO has been subscribed 0.43x by 3:40 PM. on Day 2
- It is a public issue of 2,50,26,646 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.26x
- (NII) Non-institutional buyers: 0.04x
- (RII) Retail Individual buyers: 0.69x
- Employees: 0.44x

 

At 02:30 p.m.

- This IPO has been subscribed 0.40x by 2:30 PM. on Day 2
- It is a public issue of 2,50,26,646 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.26x
- (NII) Non-institutional buyers: 0.03x
- (RII) Retail Individual buyers: 0.64x
- Employees: 0.42x

 

At 01:30 p.m.

- This IPO has been subscribed 0.38x by 1:30 PM. on Day 2
- It is a public issue of 2,50,26,646 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.23x
- (NII) Non-institutional buyers: 0.03x
- (RII) Retail Individual buyers: 0.62x
- Employees: 0.28x

 

At 12:30 p.m.

- This IPO has been subscribed 0.36x by 12:30 PM. on Day 2
- It is a public issue of 2,50,26,646 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.23x
- (NII) Non-institutional buyers: 0.02x
- (RII) Retail Individual buyers: 0.57x
- Employees: 0.26x

 

At 11:30 a.m.

- This IPO has been subscribed 0.35x by 11:30 AM. on Day 2
- It is a public issue of 2,50,26,646 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.23x
- (NII) Non-institutional buyers: 0.02x
- (RII) Retail Individual buyers: 0.55x
- Employees: 0.26x

 

At 10:30 a.m.

- This IPO has been subscribed 0.33x by 10:30 AM. on Day 2
- It is a public issue of 2,50,26,646 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.23x
- (NII) Non-institutional buyers: 0.01x
- (RII) Retail Individual buyers: 0.52x
- Employees: 0.26x

 

At 05:10 p.m.

- This IPO has been subscribed 0.30x by 5:10 PM. on Day 1
- It is a public issue of 2,50,26,646 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.23x
- (NII) Non-institutional buyers: 0.01x
- (RII) Retail Individual buyers: 0.46x
- Employees: 0.24x

 

At 04:10 p.m.

- This IPO has been subscribed 0.21x by 4:10 PM. on Day 1
- It is a public issue of 2,50,26,646 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.01x
- (NII) Non-institutional buyers: 0.01x
- (RII) Retail Individual buyers: 0.41x
- Employees: 0.05x

 

At 03:10 p.m.

- This IPO has been subscribed 0.20x by 3:10 PM. on Day 1
- It is a public issue of 2,50,26,646 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.01x
- (NII) Non-institutional buyers: 0.01x
- (RII) Retail Individual buyers: 1.97x
- Employees: 0.04

 

At 02:10 p.m.

- This IPO has been subscribed 0.18x by 2:10 PM. on Day 1
- It is a public issue of 2,50,26,646 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.01x
- (RII) Retail Individual buyers: 0.35x
- Employees: 0.03x

 

At 12:35 p.m.

- This IPO has been subscribed 0.08x by 12:35 PM. on Day 1
- It is a public issue of 2,50,26,646 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.00x
- (RII) Retail Individual buyers: 0.16x
- Employees: 0.02x

 

At 11:35 a.m.

- This IPO has been subscribed 0.11x by 11:35 AM. on Day 1
- It is a public issue of 2,50,26,646 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.00x
- (RII) Retail Individual buyers: 0.23x
- Employees: 0.02x

 

At 10:48 a.m.

- This IPO has been subscribed 0.07x by 10:45 AM. on Day 1
- It is a public issue of 2,50,26,646 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.00x
- (RII) Retail Individual buyers: 0.14x

 

Why Should You Invest in Vijaya Diagnostics IPO?

Vijaya Diagnostics is one of the leading pathology and radiology testing centres in India. Here are some reasons to pick this stock when the IPO opens –

1. The diagnostics chain is in business for 40 years, which embodies their experience in this sector.
2. Vijaya Diagnostics have a strong foothold in Southern India, mainly in Andhra Pradesh and Telangana.
Also, the company has expanded well in other areas of this country.
3. They are now focusing on establishing their presence in Eastern India, which is a market with high potential.
4. Besides its individual services, the company also caters to companies.

Financial Highlights

Vijaya Diagnostics is operating on a strong financial base; here is an overview of this company’s financial performance in the previous three fiscal years –

Financial Year Total Assets in millions Total Revenue in millions Total Expenses in millions Profit After Tax in millions
March FY2021 Rs. 5409.40 Rs. 3885.93 Rs. 2764.69 Rs. 849.11
March FY2020 Rs. 4822.56 Rs. 3541.82 Rs. 2707.55 Rs. 625.07
March FY2019 Rs. 4064.30 Rs. 3029.44 Rs. 2376.26 Rs. 462.72

How to apply for Vijaya Diagnostics IPO?

You can apply for the Vijaya Diagnostics IPO in these ways:

UPI
Link your bank account to a reliable UPI ID and register it with your Angel One account. Proceed to book Vijaya Diagnostics IPO shares using the ID, confirm the payment on the UPI app, and block the amount for allotment.

Demat Account

1. If you are already a client of Angel One, apply directly for Vijaya Diagnostics IPO, click here.
2. If you’re a new investor Open DEMAT Account for free with Angel One to begin your investment journey.

Vijaya Diagnostics IPO – Noteworthy Highlights

After their long journey spanning over 4 decades, Vijaya Diagnostics has been established as a prominent name of this segment. Here are some noteworthy highlights that investors should be aware of –

1. Vijaya Diagnostics has 80 diagnostics centres and 11 reference laboratories across the country. It helps the company to cater to a wide range of demographics.

2. Additionally, the company has remained profitable in the last 3 fiscal years, with FY2021 registering Rs. 849.11 million.

3. Till March 2021, Vijaya Diagnostics has served 2.63 million customers.

4. Caters to more than 200 corporate clients.

Vijaya Diagnostics IPO - SWOT Analysis

strengths

Strengths

  • Experience: The company has substantial experience in this sector spanning over four decades.
  • Strong financials: The company's financials have been on a growing trajectory, and they have been churning profits in consecutive years.
  • Network: Vijaya Diagnostics has a strong network of 80 centres that caters to 13 cities of India.
Weaknesses

Weaknesses

  • Regional brand: Irrespective of its presence in North and Eastern India, Vijaya Diagnostics is still a brand focused on the Southern Indian market.
Opportunities

Opportunities

  • High growth potential sector: Diagnostics services are an emerging segment within healthcare. Between FY2020-23, this market is likely to register a CAGR of 12-13%.
Threats

Threats

  • Strong competition: Standing against its listed peers with a nationwide presence can be tough.
Strenghts Strengths
Weaknesses Weaknesses
Opportunities Opportunities
Threats Threats

Strengths

  • Experience: The company has substantial experience in this sector spanning over four decades.
  • Strong financials: The company's financials have been on a growing trajectory, and they have been churning profits in consecutive years.
  • Network: Vijaya Diagnostics has a strong network of 80 centres that caters to 13 cities of India.

Weaknesses 

  • Regional brand: Irrespective of its presence in North and Eastern India, Vijaya Diagnostics is still a brand focused on the Southern Indian market.

Opportunities 

  • High growth potential sector: Diagnostics services are an emerging segment within healthcare. Between FY2020-23, this market is likely to register a CAGR of 12-13%.

Threats 

  • Strong competition: Standing against its listed peers with a nationwide presence can be tough.

Competitive Analysis: Market Peers

Here is an overview of the performance of market peers of Vijaya Diagnostics on 25 August 2021 –

Competitor Face value Sector P/E Market Cap. Dividend yield
Dr. Lal PathLabs Ltd 10 127.42 Rs. 31,813 crores 0.52
Aster DM Healthcare Ltd 10 127.42 Rs. 9815 crores NA
Narayana Hrudayalaya Ltd 10 127.42 Rs. 10,135 crores NA
N G Industries Ltd 10 127.42 Rs. 16 crores NA
Krsnaa Diagnostics Ltd 5 127.42 Rs. 2866 crores NA
** Note: Market cap is mentioned in crores

Vijaya Diagnostics IPO FAQs

What is the application process of Vijaya Diagnostics IPO via Angel One App?

You can apply for an IPO via Angel One App by following the below-mentioned steps –
Step 1: Go to the ‘investment opportunities’ section on Angel One App
Step 2: Visit the ‘IPOs and FPOs’ section and enter the required information
Step 3: Enter the UPI ID approved by the NPCI
Step 4: Click on ‘invest’ to place your order for Vijaya Diagnostics IPO

How to locate my UPI ID?

You can visit the ‘profile’ section of any UPI app to find your ID. To learn more about this process in various apps, click here.

How to generate a UPI ID?

To generate a UPI ID using the BHIM app, you can remember the following pointers –
Step 1: Download the BHIM mobile application
Step 2: Verify your mobile phone number and create a password or PIN
Step 3: Select a bank from the provided list
Step 4: It will then automatically fetch your bank account details
Step 5: If you have more than one bank account, select the one you want to register with BHIM
Step 6: Create a personal UPI ID for security reasons
You can then view your UPI ID in the ‘profile’ section.

Is it possible to apply for Vijaya Diagnostics IPO without a UPI ID?

Yes, it is possible to apply for Vijaya Diagnostics IPO or any other without a UPI ID. You can do it through the ASBA process via your bank account or by using a physical form. In case you do not have a UPI ID, you can quickly create one via any of the handles mentioned in the NPCI list.

I cannot locate my UPI ID in the Angel One App dropdown menu while applying for Vijaya Diagnostics IPO; what to do now?

If you cannot locate your UPI handle in the dropdown menu of Angel One App, it means NPCI has not approved your ID. In that case, you can choose any other financial institution from that NPCI list to create a UPI handle.

What is the timeframe within which one needs to accept a UPI mandate?

It is ideal to accept a UPI mandate as soon as you receive it. Nonetheless, the window for UPI mandate approval remains open from the IPO closing bell to 12 pm of the next working day.

Can I make more than one Vijaya Diagnostics IPO application?

No, you can only make one application per PAN, according to the current guidelines. Moreover, if you apply for a single IPO from multiple platforms using a single PAN, your application will be rejected, and you may fail to secure an allotment.

What is the procedure for accepting a UPI mandate for Vijaya Diagnostics IPO?

You can approve a UPI mandate for Vijaya Diagnostics IPO by your respective UPI App. To learn more about the steps of this process, click here.

I have approved the UPI mandate request, but it is showing pending on the Angel One App. What should I do now?

Angel One App does not show real time updates once you approve the UPI mandate. Nevertheless, if you approve this UPI mandate, it will reflect on your IPO order book after a while.

What are the charges associated with Vijaya Diagnostics IPO?

Using the Angel One App to apply for a Vijaya Diagnostics IPO will not accrue any extra charges.

Can I use a bank account that is not linked with the Angel One App to apply for this Vijaya Diagnostics IPO?

Yes, you can do it. However, the bank account must be in your name.

Can I use any UPI handle to apply for this Vijaya Diagnostics IPO?

No, you cannot use any random UPI handle to apply for Vijaya Diagnostics IPO. UPI handles approved by the NPCI are only eligible. So, if you cannot apply for Vijaya Diagnostics IPO using your current UPI ID, then review the list of banks and UPI services providers that have NPCI’s approval to provide UPI service and register with them.

What is a cut-off price? Is it okay to apply at this price point?

A cut-off is a price point at which Vijaya Diagnostics IPO shares will be issued. This price is set during the allotment stage. If you apply at this price, it means you are willing to place a bid at this particular price point. Yes, it is ideal to bid at this price point as it increases your chances of securing an allotment.

Is it okay to use a current account to apply for an IPO?

No, it is not ideal to use a current account to apply for an IPO. The reason being, banks do not approve any application made via such accounts. Hence, it is better to apply using a savings account. You can get in touch with your bank for further information.

Can I Use my Hindu Undivided Family Account to apply for this Vijaya Diagnostics IPO?

No, you cannot use your HUF bank account to apply for Vijaya Diagnostics IPO, or any other public offer for that matter, using Angel One Platform. Contrarily, it is possible if you use your Hindu Undivided Family account using the ASBA process via your bank.

Can I apply for Vijaya Diagnostics IPO using my minor daughter’s bank account?

No, you cannot apply for Vijaya Diagnostics IPO using your minor daughter’s bank account. This is because the Angel One App has no such provisions where you can initiate an IPO application using bank accounts like these. On the other hand, a minor can apply using the ASBA process through a bank.

How fast can I get the UPI mandate request after placing the order for Vijaya Diagnostics IPO?

Ideally, it takes about 15 to 20 minutes to get this UPI mandate request after placing a bid for Vijaya Diagnostics IPO. Nonetheless, you may face delays in some cases due to several reasons.

Can NRIs apply for this Vijaya Diagnostics IPO?

No, NRIs cannot apply for this Vijaya Diagnostics IPO using the Angel One App. However, they can do so via the Application Supported By Blocked Amount or ASBA process via their respective banks.

The funds are not debited from my bank account even after submitting the bid, what can be the reason?

The bank will not debit any funds from your account right after you submit an application for Vijaya Diagnostics IPO allotment. Your bank will only freeze the respective amount for the time being, and after your receive the allotment, you bank will debit these funds. Whereas, if you do not get any allotment or your UPI mandate expires, these funds will be released.

What are the reasons behind the rejection of my Vijaya Diagnostics IPO application?

Your application for Vijaya Diagnostics IPO can be rejected due to the following reasons –
- If your bank account, UPI ID, and Demat Account is not linked with the same PAN.
- In case you enter a wrong UPI PIN or ID while approving your UPI mandate.
For example, if you use your Demat account to apply for Vijaya Diagnostics IPO and use someone else’s UPI handle to pay for it. In that case, you may face rejection owing to –
- In case the bank account and Demat account are not linked.
- If your PAN is not linked with the UPI handle are not connected.

What is the tentative time period needed to block and unblock the needed funds for an IPO subscription?

You can block the required funds for a particular public offering as soon as you approve a UPI mandate. On the other hand, if you do not receive the required allotment, or your UPI mandate expires, these funds will be released. However, if your funds are not released even after that, you can contact your bank for more information.

Is it possible to change my bid for Vijaya Diagnostics IPO after applying?

Yes, it is possible to alter the lot size and UPI ID even after applying and placing a bid for Vijaya Diagnostics IPO. However, a point to remember is that if you approve the UPI mandate and then decides to alter it, it will be count as a new bid. Thus, banks will block this amount besides the original bid. Also, you will receive a new UPI mandate for this bid.

How to receive an allotment for Vijaya Diagnostics IPO without fail?

It is not possible to guarantee an IPO allotment, irrespective of the public issue you are planning to invest in. In case of an oversubscription, which is a popular case, shares are allotted via a lottery system.
A point to remember here is that the Angel One platform only allows you to apply for an IPO and does not guarantee any allotment.
However, you can improve your chances of securing an allotment by following the below-mentioned tips –
- Use a Demat account linked with PAN
- Apply at the cut-off price
- Ensure that your UPI ID and bank account are linked through the same PAN. Not maintaining that can lead to rejection. For instance, if A has applied for this Vijaya Diagnostics IPO using his Demat account and paid for it via B’s UPI ID. Here, an application can get rejected if –
1.B’s UPI ID is not connected with A’s PAN
2.A’s Demat account has no connection with B’s bank account

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