Vijaya Diagnostic Centre Limited

Vijaya Diagnostic Centre Limited, established in 1981, operates one of the larger integrated diagnostic chains in Southern India, providing pathology and radiology testing along with cardiology, neurology and gastroenterology related diagnostic services. The company runs a hub-and-spoke network of around 80 diagnostic centers and 11 reference laboratories spread across roughly 13 cities and towns in Telangana, Andhra Pradesh, the National Capital Region and Kolkata. The company's laboratories carry NABL accreditation, with a number of centers also NABH accredited, reflecting the quality standards it applies across its testing operations. It employs a large team of radiologists, pathologists and other healthcare professionals, and in the year of its public issue it processed several million pathology and radiology tests for a customer base running into the millions, indicative of the scale it had reached as a regional diagnostics operator. The company's initial public offer in September 2021 was structured entirely as an offer for sale by its founder-promoter and existing private-equity investors, meaning the listing itself did not raise fresh capital for the business but instead gave existing shareholders a partial exit and brought the company onto the public markets. Its financial performance in the years leading up to listing showed steady growth in both revenue and profit, consistent with the broader expansion of organised diagnostic chains in India over that period.

The company raised approximately Rs 566 crore from 41 anchor investors, including 9 mutual funds across 18 schemes, at Rs 531 per equity share on August 31, 2021, ahead of the public issue opening.