Krsnaa Diagnostics IPO to launch today, investors can bid for three days

Krsnaa Diagnostics focuses on the public private partnership (PPP) diagnostics segment, and has the largest presence in the diagnostic PPP segment. Its IPO comprises fresh issue of equity shares worth 400 crore and an offer for sale of up to 8,525,520 equity stocks by its existing shareholders.
Krsnaa Diagnostics provides a range of technology-enabled diagnostic services.(Pic courtesy: krsnaadiagnostics.com)
Krsnaa Diagnostics provides a range of technology-enabled diagnostic services.(Pic courtesy: krsnaadiagnostics.com)
Published on Aug 04, 2021 06:00 AM IST
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Byhindustantimes.com | Edited by Amit Chaturvedi, Hindustan Times, New Delhi

It's pouring IPOs this week, and Krsnaa Diagnostics is the latest to launch its initial public offering starting Wednesday. The IPO will remain open from August 4 to 6 with a price band of 933-954 a share.

Krsnaa Diagnostics is offering IPO along with Windlas Biotech, Exxaro Tiles and Devyaani International Limited.

Fund raising: The Krsnaa Diagnostics IPO comprises fresh issue of equity shares worth 400 crore and an offer for sale of up to 8,525,520 equity stocks by its existing shareholders.

As part of the offer for sale, Phi Capital will sell 16 lakh equity shares, Kitara will offload 33,40,713 equity shares, Somerset Indus Healthcare Fund I Ltd will offer 35,63,427 equity shares and Lotus Management Solutions will sell 21,380 equity shares.

At the upper end of the price band, the IPO is expected to mobilise 1,213.3 crore.

Objective of issue: Proceeds from the fresh issue will be used for financing the cost of establishing diagnostics centres in Punjab, Karnataka, Himachal Pradesh, and Maharashtra; repayment of loans availed by the company and general corporate purposes.

Lot size: The company said investors can bid for a minimum of 15 equity shares and in multiples of 15 thereafter.

About the company: Krsnaa Diagnostics provides a range of technology-enabled diagnostic services such as imaging (including radiology), pathology/clinical laboratory and tele-radiology services to public and private hospitals, medical colleges and community health centres pan-India.

The company focuses on the public private partnership (PPP) diagnostics segment, and has the largest presence in the diagnostic PPP segment.

As of June 2021, the company operated 1,823 diagnostic centres offering both radiology and pathology services in 13 states across the country.

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Tuesday, December 07, 2021