The initial public offering of India’s largest diagnostics service provider, Krsnaa Diagnostics, will open for subscription on 4 August 2021, Wednesday. Individuals can subscribe to its initial offer till 6 August.
Per preliminary papers filed with SEBI, the public issue will comprise a new issue of Rs. 400 crores and a secondary issue of 9,416,377 equity shares. Existing shareholders of this company, including Somerset Indus Healthcare Fund I Ltd, Phi Capital, Kitara, and others, would be offloading shares via an offer for sale (OFS).
A Dive into the Krsnaa Diagnostics IPO
Let us walk through the basic overview of Krsnaa Diagnostics’ initial public offering:
- Type of Issue: Book-built Issue
- Face Value: 5 pershare
- IPO Price Band: 933to Rs. 954 per share
- Listing on: NSE and BSE
- Minimum Order Quantity: 15shares
- Minimum Lot: 15 shares
The allotted portion for each investor category is as follows:
- Qualified Institutional Buyers (QIBs): 75%
- Retail Individual Investors (RII): 10%
- Non-institutional Investors: 15%
Besides knowing the details mentioned above, it is crucial for investors to know the competitive strengths of this company.
What is the Grey Market Saying about Krsnaa Diagnostics IPO?
Per the latest updates, the grey market is pegging a premium of 46% on the Krsnaa Diagnostics IPO, trading at an Rs. 440 premium. The GMP hints at a listing of Rs. 1394, taking the upper range of Krsnaa Diagnostics IPO price band, i.e., Rs. 954.
Krsnaa Diagnostics: A Closer Look into the Company
Krsnaa Diagnostics has cemented a reputable position in the diagnostic segment within just 10 years. Here are a few of the company’s key highlights:
- This company provides high-quality healthcare services at an affordable price.
- Krsnaa Diagnostics is one of the leading operators of teleradiology reporting hubs in India.
- As of 31 December 2020, the Pune-based company operated 1801 diagnostic centres across 13 states.
- In FY2020, this company served over 5 lakh patients.
- Krsnaa Diagnostics constantly strives to maintain a debt to equity ratio of 1:1.
Apart from knowing the competitive strengths, it’s vital to consider Krsnaa Diagnostics’ financial position before subscribing to its FPO. Here are some of its financial highlights:
|For the Period Ended||Total Assets (in Rs.)||Total Revenue (in Rs.)||Profit After Tax (in Rs.)|
|31 March 2019||5289.85 million||2143.15 million||(580.57 million)|
|31 March 2020||6299.82 million||2713.79 million||(1119.51 million)|
|31 December 2020||6345.17 million||5627.01 million||1959.30 million|
Krsnaa Diagnostic’s strong market presence across more than 10 states in India, along with its robust infrastructure, might be quite favourable for investors. Moreover, considering its healthy debt profile, the company’s outlook also seems stable. Plus, the company’s latest financial reports reveal positive PAT for the first time in the 3 years since FY2018.
Accordingly, one might want to apply for this IPO. However, one must make sure to take into account crucial aspects such as weaknesses, threats, and the competition before subscribing to the offer.
Frequently Asked Questions
- Who is the registrar for Krsnaa Diagnostics IPO?
KFintech Private Limited is the registrar for Krsnaa Diagnostics’ upcoming initial public offer.
- When are shares of Krsnaa Diagnostics getting listed?
17 August 2021
- How can investors apply for Krsnaa Diagnostics IPO?
New investors can subscribe to Krsnaa Diagnostics IPO by opening a DEMAT account with Angel One. Existing customers of Angel One can sign in to their online trading account and apply for Krsnaa Diagnostics IPO.
- Who are the lead managers of this IPO?
JM Financial, Equirus Capital, IIFL Securities, and DAM Capital Advisors are lead managers to this IPO.
- When will Krsnaa Diagnostics publish the basis of allotment document?
11 August 2021
- What is the Pre-IPO promoter shareholding?
Promoters of the company hold a 74.63% stake in Krsnaa Diagnostics.