INSUBCONTINENT EXCLUSIVE:
Krsnaa Diagnostics share sale via initial public offering (IPO) will open for bidding tomorrow, August 4 and end on August 6
The company is planning to raise Rs 1,213 crore from the IPO and has priced shares in the band of Rs 933 to Rs 954 per share
Krsnaa Diagnostics is one of the fastest-growing diagnostic chains in India
The company offers a wide range of diagnostic services such as imaging/radiology services (X-rays, MRI, etc.), routine clinical laboratory
tests, pathology, and tele-radiology services to private and public hospitals, medical colleges, and community health centres.Krsnaa
Diagnostics IPO comprises of fresh issue of Rs 400 crore and an offer for sale of 85.25 lakh shares aggregating up to Rs 813 crore
Retail investors can bid for Krsnaa Diagnostics shares in minimum one lot of 15 shares and up to maximum of 13 lots
At the upper price band one lot of shares will cost Rs 14,310.Krsnaa Diagnostics will not receive any proceeds from the offer for sale and
its existing shareholders Phi Capital, Kitara, Somerest and Lotus Management Solutions are selling shares in the OFS
Krsna Diagnostics will use the proceeds from fresh issue to finance the cost of establishing diagnostics centres at Punjab, Karnataka,
Himachal Pradesh and Maharashtra, repayment/pre-payment, in full or part, of borrowings from banks and other lenders availed and for general
corporate purposes.Krsnaa Diagnostics has an extensive network of diagnostic centres across India with a key focus on non-metro, and lower
As of December 31, 2020, it operates 1,801 diagnostic centres that are offering radiology and pathology services across 13 different cities
in India.Eligible employees bidding in the IPO will get discount of Rs 93 per equity share.JM Financial Limited, DAM Capital Advisors
Limited, Equirus Capital Private Limited and IIFL Securities Limited are the book running lead managers for the IPO and KFin Technologies is
the registrar to the issue.
