YES Securities IPO report on Vijaya Diagnostic Centre
Vijaya Diagnostic Centre (VDCL) is one of the largest integrated diagnostic chain in South India, having a dominant market share and brand recall in the Telangana and Andhra Pradesh. After starting in 1981, the company has 81 diagnostic centres in 13 cities/towns. It has 7% share in Telangana and Andhra non-hospital diagnostic market. Promoted by S. Surendranath Reddy, promoters own 60% stake while rest is owned by PE firm Kedaara Capital. After OFS, Kedaara would own 10%.
Valuation and Outlook
Recommend Subscribe on a medium term basis though cognizant that near term triggers or surprises on growth after a COVID-fueled Q1 FY22 appear unlikely.
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