Krsnaa Diagnostics Rs 1,213-crore IPO will open for subscription on Wednesday, 4 August 2021, at a cost band of Rs 933-954 per share of face worth of Rs 5 every. The public challenge comprises a fresh challenge of shares worth Rs 400 crore and an offer you for sale (OFS) of up to 85.25 lakh equity shares by current promoting shareholders. The offer you for sale consists of sale of 16 lakh equity shares by PHI Capital Trust-PHI Capital Growth Fund-I 33,40,713 equity shares by Kitara PIIN 1104 35,63,427 equity shares by Somerset Indus Healthcare Fund I and 21,380 equity shares by Lotus Management Solutions (acting by means of Mayur Sirdesai). The total offer you size comes to Rs 1,213.33 crore.
In the grey marketplace, Krsnaa Diagnostics shares had been seen trading at Rs 1,364 apiece, Rs 410 or 43 per cent premium more than the IPO cost, according to the men and women who deal in the unlisted shares of businesses. Krsnaa Diagnostics IPO will be amongst 4 public concerns to open on 4 August 2021 along with Devyani International, Windlas Biotech, and Exxaro Tiles. Investors can bid for a minimum of 15 equity shares and in multiples thereafter, implying a minimum investment of Rs 14,310 per lot at the upper finish of the cost band. Up to 75 per cent of the net offer you (or Rs 881.57-895 crore) will be reserved for Qualified Institutional Buyers (QIBs), 15 per cent (or Rs 176.31-179 crore) for non-institutional investors and the remaining 10 per cent (or Rs 117.54-119.33 crore) for the retail investors. The offer you also involves a reservation of shares worth Rs 20 crore for workers, who will a discount of Rs 93 per share to the final challenge cost. JM Financial, DAM Capital Advisors, Equirus Capital, and IIFL Securities are the book operating lead managers to the challenge.
The firm knowledgeable heavy demand for PCR testing as a outcome of the COVID-19 pandemic, which has had a positive effect on its all round testing volume, the duration and level of the demand for, and reimbursement for, COVID-19 molecular testing was uncertain. The diagnostic firm operated more than 1,800 diagnostic centres across 13 states as of December 31, 2020. It also operates a teleradiology reporting hub in Pune. Each of its diagnostic centres and especially the teleradiology reporting hub is essential to its operations. Krsnaa Diagnostics competitors incorporate diagnostic healthcare service providers in India, hospital-based diagnostic centres, independent clinical laboratories, other smaller sized-scale providers of diagnostic services (such as pathology, radiology laboratories and preventive care providers as effectively as international service providers which could establish and expand their operations in future.
Krsnaa Diagnostics listed sector peers are Metropolis Healthcare and Dr. Lal PathLabs. The weighted typical return on net worth for last 3 fiscals is 9.54 per cent. The anticipated date for allotment of shares is 11th August 2021. And the tentative date for listing of Krsnaa Diagnostics shares at NSE and BSE is 17th August 2021. The registrar to the challenge is KFin Technologies Pvt Ltd. The firm has planned to utilise the net proceeds towards funding the finance the price of establishing diagnostics centres at Punjab, Karnataka, Himachal Pradesh and Maharashtra worth Rs 150.8 crore, repayment/pre-payment, in complete or portion, of borrowings from banks and other lenders availed by the firm worth Rs 146.08 crore, and for common corporate purposes.