Vijaya Diagnostic, the diagnostic chain backed by non-public fairness agency Kedaara Capital, has filed the draft crimson herring prospectus with the market regulator Sebi for its preliminary public providing (IPO). Vijaya Diagnostic is the second diagnostic chain to file for IPO this yr, with Krsnaa Diagnostics having filed its papers in Might.
The diagnostic chain’s public supply might be a proposal on the market of 35,688,064 fairness shares by the promoters, i.e. Dr S Surendranath Reddy and buyers Karakoram, and Kedaara Capital Various Funding Fund, in line with its draft crimson herring prospectus.
The promoters will collectively dilute a 35 per cent stake within the diagnostic chain, with Kedaara alone diluting as a lot as 30 per cent. Kedaara Capital had picked up a stake of 40 per cent in Vijaya in 2016.
Vijaya Diagnostic is without doubt one of the largest diagnostic chains in southern India, providing pathology and radiology testing companies throughout 13 cities and cities in Telangana, Andhra Pradesh, Kolkata and the Nationwide Capital Area.
Vijaya Diagnostic’s listed friends embody Dr Lal PathLabs, Thyrocare Applied sciences and Metropolis Healthcare.
ICICI Securities, Edelweiss Monetary Providers and Kotak Mahindra Capital are the funding bankers for the IPO.