Healthcare chain Vijaya Diagnostic Centre on Thursday said, the company has fixed a price band of Rs 522-531 a share for its Rs 1,895-crore initial share sale. The IPO, to raise upto Rs1,895 crore, is an offer for sale of about 3.57 crore equity shares by the promoter S. Surendranath Reddy as well as investors Karakoram and Kedaara Capital Alternative Investment Fund - Kedaara Capital AIF 1.

The minimum bid lot is 28 shares and in multiples of 28 shares subsequently. The public offer will close on September 3. While the company will not receive any proceeds from the IPO — the selling shareholders will get them – it expects listing of the shares to enhance its visibility and brand image.

Vijaya Diagnostic Centre provides pathology and radiology testing services.  The company’s CEO Suprita Reddy said its operational network consists of 81 diagnostic centres and 11 reference laboratories across 13 cities and towns in Andhra Pradesh, Telangana and in National Capital Region and Kolkata. Besides setting up additional diagnostic centres in Telangana and Andhra Pradesh, it plans to expand in adjacent geographies and east India. The company intends to also supplement organic growth with selective acquisitions.

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