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Below is quote on Upcoming IPO Vijay Diagnostic Center by Mr. Yash Gupta, Equity Research Associate, Angel Broking Ltd   

Vijaya Diagnostic Center IPO to open on 1st September 2021 with a price band of Rs.522-531.

Another South India diagnostic chain to come up with the IPO in 2021. Vijaya IPO will open on 1st September 2021 and closes on 3rd September 2021, company has fixed the price band of Rs.522-531. Vijaya Diagnostic provides pathology and radiology testing services, company offers around 740 routine tests, 870 specialize pathology tests, 220 basic tests, and 320 advanced radiology tests. Vijaya diagnostic network consists of 80 diagnostic centers and 11 reference labs across 13 cities. Companies 96% of revenue comes from Hyderabad, company has conducted 62 lakhs pathology tests and 8.9 lakhs radiology tests in FY2021. The company has reported a good set of numbers in FY2021, its PAT has increased by  37% from Rs.62 crores in FY2020 to Rs.84.9 crores in FY2021 and revenue has increased by 9.7% from Rs.354 crores in FY2020 to Rs.388.5 crores in FY2021. We have seen in Krsnaa Diagnostics Ltd IPO that the IPO has been priced at the higher end of the peers and after the listing, the company is trading below the IPO price. We have a neutral view on Vijay Diagnostic center IPO.

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