Vijaya Diagnostic IPO Receives Timid Response from Investors

6 September 2021
2 mins read
Vijaya Diagnostic IPO Receives Timid Response from Investors

By the closing date on 3 September 2021, Vijaya Diagnostic IPO was subscribed 4.54 times and received bids for 11,36,44,020 shares. The IPO’s issue size was Rs. 1,895 crores. This IPO comprises entirely of an offer for sale, as per its DRHP.

Day 3 Subscription Status of Vijaya Diagnostic IPO

Given below is Vijaya Diagnostic IPO performance across various segments of investors on the closing date of bidding:

  1. RIIs bids stood at 1,35,74,624compared to the allotted 1,24,38,323 shares. As a result, it was oversubscribed by 1.09 times.
  2. NIIs submitted bids for 70,59,864shares in opposition to the 53,30,710 allocated shares. Resultantly, it was subscribed 1.32 times.
  3. QIBs placed bids for 9,28,62,784shares in comparison with the 71,07,613 reserved shares. Consequently, it was subscribed 13.07 times.
  4. Employees have put bids for 1,46,748shares against the allocated 1,50,000 shares, hence subscribing 0.98 times.

Vijaya Diagnostic IPO Subscription: Overview

Given below is a table representing Vijaya Diagnostic IPO performance for these three bidding days:

Category of Investors IPO  Subscription
QIBs 13.07 times
NII 1.32 times
RII 1.09 times
Employees 0.98 times
Total 4.54 times

Vijaya Diagnostic opened its IPO with the objective to enhance the company’s visibility and brand image. The company also formulated additional objectives of providing liquidity to the shareholders.

It had reserved 50% of the share portion to qualified institutional investors, 35% for retail investors, and the remaining 15% for non-institutional investors.

Day 1 and Day 2 Highlights of Vijaya Diagnostic IPO

Given below is the detailed information on the number of times Vijaya Diagnostic shares received bids during the initial two days.

Day of Bidding NII QIB RII Employee Total
Day 1 0.01 times 0.23 times 0.46 times 0.24 times 0.30 times
Day 2 0.05 times 0.32 times 0.74 times 0.52 times 0.47 times

Bottom Line

Vijaya Diagnostic got a weak response from investors on the closing date as well. The reserved portion for QIB was subscribed 13.07 times, and that for RII was subscribed 1.09 times. Overall, on the closing day, this IPO was subscribed 4.54 times.

Nonetheless, analysts earlier suggested investors subscribe to this IPO because of the company’s strong presence in South India. It also indicated an upscaling of around 27% over the next 24 months.


Frequently Asked Questions

  1. Who is the promoter of Vijaya Diagnostic?

Dr. S. Surendranath Reddy is the promoter of Vijaya Diagnostic.

  1. When is the Vijaya Diagnostic IPO listing date?

The stipulated date for the Vijaya Diagnostic IPO listing is 14 September 2021.

  1. Who is the registrar of this Vijaya Diagnostic?

Vijaya Diagnostic registrar is KFintech Private Limited.