Krsnaa Diagnostics shares made a tepid listing on the stock exchanges today, following muted market place movement. Krsnaa Diagnostics’ shares started trading at Rs 1025 per share, up 7.33% from the IPO cost of Rs 954 per share. The IPO of Krsnaa Diagnostics had received a sturdy response from investors, getting 64.38 instances subscription. On listing the business was commanding a market place capitalization of Rs 3,218.26 crore.
Upon listing, Krsnaa Diagnostics has joined the listed business peers such as Metropolis Healthcare and Dr. Lal Pathlabs Ltd. During the IPO, Qualified Institutional Buyers (QIBs) subscribed 49.83 instances of their reserved portion, non-institutional investors 116.30 instances and retail investors 42.04 instances. The initial public provide (IPO) had a fresh situation of up to Rs 400 crore and an provide for sale of up to 85,25,520 equity shares.
Krsnaa Diagnostics gives a variety of technologies-enabled diagnostic services such as imaging (like radiology), pathology/clinical laboratory and teleradiology services to public and private hospitals, health-related colleges, and neighborhood well being centres across India. The business skilled heavy demand for PCR testing as a outcome of the COVID-19 pandemic, which has had a positive influence on its all round testing volume, the duration and level of the demand for, and reimbursement for, COVID-19 molecular testing was uncertain.
Each of its diagnostic centres and specifically the teleradiology reporting hub is essential to its operations. Krsnaa Diagnostics competitors contain 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 properly as international service providers which could establish and expand their operations in future.
Krsnaa Diagnostics is on an expansion spree with more centres opening. In addition to the above, a complete variety of diagnostic services i.e. imaging and pathology, sturdy brand equity with quality healthcare services at cost-effective costs and constant economic functionality track record provide for additional development visibility, BP Equities Institutional Research stated in a report.