Vijaya Diagnostics IPO Subscription Day-2

The Rs.1,895 crore IPO of Vijaya Diagnostics consists entirely of an offer for sale. It got a tepid response at the end of Day-1 and not much has changed at the end of Day-2. As per the combined bid details put out by the BSE, Vijaya Diagnostics IPO was subscribed 0.47X overall at the end of Day-2, with retail demand showing some signs of traction. The issue closes for subscription on Friday, 03 September.

As of close of 02 September, out of the 250.27 lakh shares on offer, Vijaya Diagnostics saw bids for 118.62 lakh shares. This implies an overall subscription of 0.47X. The granular break-up of subscriptions is as under.

Vijaya Diagnostics IPO Subscription Day-2
 

QIB Portion

The QIB portion saw 0.32X subscription with demand for 22.46 lakh shares against 71.08 lakh shares available; net of anchor placement. On 31 August, Vijaya Diagnostics did anchor placement of Rs.566 crore to QIB investors like Fidelity, Aberdeen, Abu Dhabi Investment Authority, Government Pension Fund, ICICI Pru MF, Nippon MF, SBI MF and Kotak Life. 

HNI Portion

The HNI portion got subscribed just 0.05X (getting applications for 2.91 lakh shares against the quota of 53.31 lakh shares). Funded applications and corporate applications, come in on last day, so we have to wait for that to get a clear picture.

Retail Individuals

The retail portion got subscribed 0.74X times at the end of Day-2, showing relatively better retail appetite. Among retail investors; out of the 124.38 lakh shares on offer, valid bids were received for 92.47 lakh shares, of which bids for 74.13 lakh shares were at the cut-off price. 

The IPO is priced in the band of (Rs.522-Rs.531) and has allocated a quota of 35% for retail and 50% for QIBs.
 

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