The initial public providing (IPO) by Krsnaa Diagnostics will open on August 5 and close on August 6. The value band has been fixed in between `933-`954 per equity share with a face worth of Rs 5 every single.
Pune-based Krsnaa Diagnostics is one of the biggest differentiated diagnostic service providers in the nation, with a network of 1,823 diagnostic labs with radiology and pathology services in 13 states. A substantial portion of the company’s enterprise comes from labs set up on a public-private partnership (PPP) basis with state governments and municipal bodies in non-metros and low-tier cities and towns, Yash Mutha, executive director of Krsnaa stated.
Mutha stated the business saved on rentals and advertising and marketing fees by means of tie-ups with public hospitals and government healthcare centres. Reporting fees had been kept low by means of a centralised tele-radiology operation based out of Pune. The PPP tie-up periods variety from two to 10 years.
The IPO comprises fresh situation aggregating up to Rs 4,000 million and an offer you for sale of up to 8,525,520 equity shares. The promoting shareholders are private equity investors Phi Capital Trust-Phi Capital Growth Fund-I, Kitara, Somerset Indus Healthcare Fund I and Lotus Management Solutions. The offer you consists of a reservation aggregating up to Rs 200 million for subscription by workers.
The business proposes to utilise the net proceeds from the fresh situation for repayment/ pre-payment of debt of Rs 147 crore and grow to be a zero debt business. The business will invest Rs 150 crore on projects, which includes setting up diagnostics centres in Punjab, Karnataka, Himachal Pradesh and Maharashtra, Mutha stated.