How did Krsnaa Diagnostics IPO Perform?

5 August 2022
3 mins read
How did Krsnaa Diagnostics IPO Perform?

Krsnaa Diagnostics’ initial public offering opened for subscription from 4 August to 6 August 2021. In the three days, the company’s IPO was subscribed 64.40 times, with bids for a total of 458,008,245 shares.

Per its DRHP, Krsnaa Diagnostics was supposed to raise Rs. 1200 crores through this public offer, comprising new issues worth Rs. 400 crores.

This initial public offering also consisted of an OFS of a maximum of 8,525,520 shares by PHI Capital Trust-PHI Capital Growth Fund-I, Lotus Management Solution, Somerset Indus Healthcare Fund I, and Kitara PIIN 1104.

Krsnaa Diagnostics IPO – Day 3 Verdict

Here’s a quick look at how Krsnaa Diagnostics IPO performed at the end of Day 3 of this public offer.

  • Qualified institutional buyers bid for 18,69,79,845 shares against 3,752,625 shares reserved for them.
  • Non-institutional investors sought 21,82,10,460 shares against the 1,876,312 shares set aside for them.
  • Retail individual investors subscribed to 5,25,90,540 shares against a total of 1,250,874 available to this category.
  • Krsnaa Diagnostics’ employees bid for 2,27,400 shares against 232,288 reserved shares.

What was the Overall Performance of Krsnaa Diagnostics IPO?

Check how this IPO performed across different investor categories in these three days.

QIB RII NII Employees Total 
49.83 times 42.04 times 116.30 times 0.98 times 64.35

times

Krsnaa Diagnostics Mopped Rs. 537 Crores from Anchor Investors

Krsnaa Diagnostics offered a total of 5,628,937 shares to 44 anchor investors. Out of which, 46.93%, i.e., 2,641,560 shares were allotted to 9 domestic mutual funds. Each share was priced at Rs. 954, amounting to Rs. 537 crores.

Domestic Investors

  • Edelweiss
  • ICICI Prudential
  • SBI Mutual Fund
  • Tata Mutual Fund
  • Max Life Insurance
  • Kotak Mutual Fund
  • Aditya Birla Sun Life
  • Abakkus Growth Fund
  • Motilal Oswal Mutual Fund
  • Kotak Mahindra Life Insurance
  • Nippon Life HDFC Life Insurance

Marquee Investors

  • HSBC
  • Nomura
  • Societe Generale
  • Kuber India Fund
  • Stock Mother Fund
  • Segantii India Mauritius
  • Volrado Venture Partners
  • Tara Emerging Asia Liquid Fund
  • Elara India Opportunities Fund

Big names such as DAM Capital Advisors Limited, IIFL Securities Limited, JM Financial Limited, and Equirus Capital Private Limited were appointed as the lead managers to this initial public offer. The sponsor bank for Krsnaa Diagnostics’ initial public offering was ICICI Bank Limited.

The company plans to use the proceeds from this initial public offering to achieve these objectives –

  • Prepay and repay the company’s existing borrowings either partially or in full.
  • Establish diagnostics centres in Punjab, Maharashtra, Himachal Pradesh, and Karnataka.

Besides these, the company will use the proceeds to meet its corporate purposes.

Krsnaa Diagnostics IPO – Highlights of Day 1 and Day 2

This table details this IPO’s performance on the first two days –

Bidding Day Qualified Institutional Buyers (QIB) Non Institutional Investors (NII) Retail Individual Investors (RII) Employee  Total 
Day 1  0.48 times

 

0.15 times

 

9.59 times

 

0 times

 

1.98 times

 

Day 2 0.50 times

 

4.71 times

 

21.74 times

 

0 times

 

5.35 times

Final Takeaway

The Krsnaa Diagnostics IPO concluded on a strong note. The shares of this company gained significant attention from different investor categories. Strong brand equity and a geographically diversified presence have collectively worked in favour of this initial public offering.

 

Frequently Asked Questions

  1. When will Krsnaa Diagnostics IPO list?

Krsnaa Diagnostics IPO listing date is 17 August 2021.

  1. When will investors receive Krsnaa Diagnostics IPO shares?

IPO shares will be credited to your DEMAT account on 13 August 2021.

  1. When will Krsnaa Diagnostics IPO refunds be initiated?

Refunds will be initiated from 12 August 2021.

  1. What was the minimum lot size for Krsnaa Diagnostics IPO?

A lot, i.e., 15 shares worth Rs. 14,310

  1. What was the employee discount for Krsnaa Diagnostics IPO?

The employee discount for Krsnaa Diagnostics IPO was Rs. 93.