Avoid to Vijaya Diagnostic Centre: Choice Equity Broking

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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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Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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