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Avoid to Vijaya Diagnostic Centre: Choice Equity Broking

Choice Equity Broking has come out with its report on Vijaya Diagnostic Centre. The research firm has recommended to ''Avoid'' the ipo in its research report as on August271, 2021.

August 31, 2021 / 03:54 PM IST
In May, Moneycontrol had reported that Ola's early investor Matrix Partners India was selling a part of its stake for $75 million cash at a valuation of $3-3.5 billion. (Image: Shutterstock)

In May, Moneycontrol had reported that Ola's early investor Matrix Partners India was selling a part of its stake for $75 million cash at a valuation of $3-3.5 billion. (Image: Shutterstock)

 
 
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Choice Equity Broking IPO report on Vijaya Diagnostic Centre


Kedaara Capital-backed Vijaya Diagnostic Centre Ltd. (VDCL), is coming up with an IPO to raise Rs. 1,895cr, which opens on 1st Sept. and closes on 3rd Sept. 2021. The price band is Rs. 522 - 531 per share. The issue is fully an OFS, so the company will not receive any proceeds from the IPO.



Valuation and Outlook


At higher price band of Rs. 531, VDCL is demanding a TTM P/E multiple of 47x, which is in-line to the peer average. Thus the issue seems to be fully priced. Thus we assign a “AVOID” rating for the issue.


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