Vijaya Diagnostic IPO opened on September 1 and closes today, September 3, is the last day of its subscription.- So far, in the last two days of issue, it has received a tepid response from investors.
- Meanwhile, analysts advise investors to subscribe to the IPO because of the company’s strong footing in south India and that it is cash rich and does not require any further capital for growth.
So far, in the first two days of subscription, the IPO has received a tepid response from all categories of retail investors.
The portion reserved for retail investors was subscribed 0.74 times the issue size on the second day of the issue i.e. September 2.
Overall, the issue was subscribed 0.47 times on the second day. The IPO has received bids for 1.18 crore equity shares against the IPO size of 2.50 crore equity shares.
The IPO for Vijaya Diagnostic opened Wednesday, September 1 and will close on September 3, with a price band of ₹522-531.
Further, analysts advise investors to subscribe to the IPO given the chain’s strong footing in south India.
“The company is cash rich and does not require any further capital for growth,” said Ventura Securities while recommending to ‘subscribe’ to the IPO for long-term investing with a price target of ₹672, indicating an upside of 27% over the next 24 months. However, the grey market premium for Vijaya Diagnostic IPO is not very exciting.
The firm has ₹250 crore cash on its books, Sunil Chandra Kondapally, executive director at Vijaya Diagnostic, $4.
Analysts at Ventura Capital recommend subscribing to the IPO for long-term investing with a price objective of ₹672, representing an upside of 27% over the next 24 months.
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