Vijaya Diagnostic Centre Limited has completed the allotment of 1,71,792 equity shares to eligible shareholders of Medinova Diagnostic Services Limited, marking the final step in their amalgamation process. The Board of Directors approved this allotment through a Circular Resolution, following the NCLT-approved merger scheme that became effective on November 4, 2025.

Share Allotment Details

The company has successfully allocated shares to eligible Medinova shareholders whose names appeared in the Register of Members as on the record date:

Capital Structure Impact

The share allotment has resulted in an increase in the company's paid-up equity share capital:

Merger Background

The amalgamation scheme was approved by the Hon'ble National Company Law Tribunal, Hyderabad Bench, through its order dated October 13, 2025. The merger resulted in the automatic dissolution of Medinova Diagnostic Services without winding-up, with Vijaya Diagnostic cancelling its 62.02 lakh equity shares (62.14% stake) in Medinova.

Special Provisions for Shareholders

The company has established specific mechanisms to handle various shareholder categories. A trust named VDCL Physical Shareholders Trust has been created for eligible Medinova shareholders who held shares in physical form as on the record date. These shareholders can approach KFin Technologies Limited or the company directly for credit of shares in dematerialized form upon completion of due procedures.

Fractional entitlements arising from the allotment have been consolidated and allotted to Catalyst Trusteeship Limited, an Independent Trustee appointed by the Board. The Trustee will dispose of these consolidated fractional entitlements in the open market and distribute net proceeds to eligible fractional shareholders proportionally.

Corporate Structure Enhancement

The merger has strengthened Vijaya Diagnostic's operational footprint, with Medinova Millennium MRI Services LLP becoming a wholly-owned subsidiary. This Kolkata-based MRI services entity recorded a turnover of approximately ₹2.36 crores in FY2024-25. The newly allotted equity shares rank pari-passu with existing shares and will be listed on BSE Limited and National Stock Exchange of India Limited, subject to necessary approvals.

Vijaya Diagnostic Centre , a prominent player in the healthcare diagnostics sector, has reported a consolidated net profit of 433.00 million rupees for the second quarter. This marks a 3.3% increase from the 419.00 million rupees reported in the same period last year, indicating a steady growth trajectory for the company.

Financial Performance

The company's financial results demonstrate resilience in a competitive healthcare market. Here's a breakdown of the key figures:

Vijaya Diagnostic Centre reported Q2 revenue of 2.02 billion rupees, up from 1.83 billion rupees in the same period last year, representing a 10.4% increase. The company's Q2 EBITDA also saw growth, increasing to 818.00 million rupees from 760.00 million rupees year-over-year. However, the EBITDA margin declined to 40.60% compared to 41.54% in the previous year.

Corporate Developments

In addition to the financial results, Vijaya Diagnostic Centre has made significant corporate moves:

1. Merger Approval: The company has received approval from the National Company Law Tribunal (NCLT) for the amalgamation of Medinova Diagnostic Services Limited with Vijaya Diagnostic Centre Limited.

2. Effective Date: The merger scheme became effective on November 4, following the filing of the NCLT order with the Registrar of Companies, Hyderabad.

3. Share Exchange Ratio: As part of the merger, shareholders of Medinova Diagnostic Services will receive 1 equity share of Vijaya Diagnostic Centre for every 22 shares held in Medinova.

4. Record Date: November 25 has been set as the record date for determining the shareholders of Medinova who will be eligible for shares in Vijaya Diagnostic Centre.

5. Capital Structure Changes: Post-merger, Vijaya Diagnostic Centre's authorized share capital has increased to ₹230.50 million, divided into 230.50 million equity shares of ₹1 each.

6. Subsidiary Acquisition: As a result of the merger, Medinova Millennium MRI Services LLP, previously a wholly-owned subsidiary of Medinova Diagnostic Services, has now become a wholly-owned subsidiary of Vijaya Diagnostic Centre.

Market Implications

The increase in revenue and net profit, coupled with the strategic merger, positions Vijaya Diagnostic Centre for potential growth in the diagnostic services market. The company's ability to grow its top line and maintain profitability, despite a slight decline in EBITDA margin, demonstrates its resilience in a competitive landscape.

The integration of Medinova Diagnostic Services and the resulting expansion of Vijaya's subsidiary portfolio could potentially lead to enhanced market reach and operational efficiencies.

As the healthcare diagnostics sector continues to evolve, Vijaya Diagnostic Centre's latest financial results and corporate restructuring may signal its readiness to capitalize on emerging opportunities in the industry.