Vijaya Diagnostic, the diagnostic chain backed by personal 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 May.
The diagnostic chain’s public provide will likely be a suggestion on the market of 35,688,064 fairness shares by the promoters, i.e. Dr S Surendranath Reddy and traders Karakoram, and Kedaara Capital Alternative Investment Fund, in accordance 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 likely 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 National Capital Region.
Vijaya Diagnostic’s listed friends embody Dr Lal PathLabs, Thyrocare Technologies and Metropolis Healthcare.
ICICI Securities, Edelweiss Financial Services and Kotak Mahindra Capital are the funding bankers for the IPO.