Krsnaa Diagnostics IPO

Krsnaa Diagnostics is one of the leading Pathology and Radiology service providers in India. It extends multiple services such as specialised diagnostic imaging, teleradiology services, clinical laboratory, and pathology. In addition, Krsnaa Diagnostics has an integrated network of diagnostics centres in nearly 14 states.

Krsnaa Diagnostics IPO Objectives

- Funding the expense of establishing diagnostic centres across Maharashtra, Punjab, Himachal Pradesh, and Karnataka
- Pre-payment or repayment of company’s borrowings either partially or in full
- Funding general corporate purposes

Krsnaa Diagnostics IPO - Details

The size of this upcoming IPO is Rs. 1213.33 crores. It will comprise a new issue of shares worth Rs. 400 crores and offer for sale worth Rs. 813 crores approx. Other crucial details of this IPO are represented in this table below -

Opening Date

04 August 2021

Closing Date

06 August 2021

Price Band

₹933 - ₹944

per equity share

Issue Size

₹ 1213 crores

Face Value

₹ 5

per equity share

Market Lot

15 shares

Opening Date

04 August 2021

Closing Date

06 August 2021

Price Band

₹933 - ₹944

per equity share

Issue Size

₹ 1213 crores

Face Value

₹ 5

per equity share

Market Lot

15 shares

Listing at NSE, BSE

Krsnaa Diagnostics IPO Important Dates

IPO Open Date 04 August 2021
IPO Close Date 06 August 2021
Basis Of Allotment Date 11 August 2021
Initiation Of Refunds 12 August 2021
Credit Of Shares To
Demat ACcount
13 August 2021
IPO Listing Date 17 August 2021
UPI Mandate Expiry Date -

Krsnaa Diagnostics IPO Latest News and Subscription Status Today [Live]

Day 3 : 06 August 2021
Day 2 : 05 August 2021
Day 1 : 04 August 2021

At 05:10 p.m.

- This IPO has been subscribed 22.17x by 5:10 PM. on Day 3
- It is a public issue of 71,12,099 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 49.83x
- (NII) Non-institutional buyers: 116.30x
- (RII) Retail Individual buyers: 41.74x
- Employees: 0.98x

 

At 04:25 p.m.

- This IPO has been subscribed 64.21x by 4:25 PM. on Day 3
- It is a public issue of 71,12,099 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 49.83x
- (NII) Non-institutional buyers: 116.30x
- (RII) Retail Individual buyers: 40.98x
- Employees: 0.94x

 

At 03:20 p.m.

- This IPO has been subscribed 18.46x by 3:20 PM. on Day 3
- It is a public issue of 71,12,099 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 12.90x
- (NII) Non-institutional buyers: 21.00x
- (RII) Retail Individual buyers: 34.63x
- Employees: 0.78x

 

At 02:10 p.m.

- This IPO has been subscribed 13.33x by 2:10 PM. on Day 3
- It is a public issue of 71,12,099 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 7.40x
- (NII) Non-institutional buyers: 13.77x
- (RII) Retail Individual buyers: 32.82x
- Employees: 0.74x

 

At 01:05 p.m.

- This IPO has been subscribed 11.22x by 1:05 PM. on Day 3
- It is a public issue of 71,12,099 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 5.41x
- (NII) Non-institutional buyers: 11.14x
- (RII) Retail Individual buyers: 30.76x
- Employees: 0.64x

 

At 11:50 a.m.

- This IPO has been subscribed 7.69x by 11:50 AM. on Day 3
- It is a public issue of 71,12,099 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 1.86x
- (NII) Non-institutional buyers: 6.44x
- (RII) Retail Individual buyers: 28.37x
- Employees: 0.57x

 

At 10:45 a.m.

- This IPO has been subscribed 6.58x by 10:45 AM. on Day 3
- It is a public issue of 71,12,099 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 1.48x
- (NII) Non-institutional buyers: 5.56x
- (RII) Retail Individual buyers: 24.56x
- Employees: 0.55x

 

At 05:05 p.m.

- This IPO has been subscribed 5.35x by 5:05 PM. on Day 2
- It is a public issue of 71,12,099 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.50x
- (NII) Non-institutional buyers: 4.71x
- (RII) Retail Individual buyers: 21.74x
- Employees: 0.51x

 

At 04:05 p.m.

- This IPO has been subscribed 3.88x by 4:05 PM. on Day 2
- It is a public issue of 71,12,099 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.50x
- (NII) Non-institutional buyers: 4.66x
- (RII) Retail Individual buyers: 20.75x
- Employees: 0.40x

 

At 02:45 p.m.

- This IPO has been subscribed 3.88x by 2:45 PM. on Day 2
- It is a public issue of 71,12,099 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.48x
- (NII) Non-institutional buyers: 2.37x
- (RII) Retail Individual buyers: 17.02x
- Employees: 0.28x

 

At 01:50 p.m.

- This IPO has been subscribed 3.68x by 1:50 PM. on Day 2
- It is a public issue of 71,12,099 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.48x
- (NII) Non-institutional buyers: 2.32x
- (RII) Retail Individual buyers: 16.00x
- Employees: 0.27x

 

At 12:50 p.m.

- This IPO has been subscribed 2.97x by 12:50 PM. on Day 2
- It is a public issue of 71,12,099 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.48x
- (NII) Non-institutional buyers: 0.81x
- (RII) Retail Individual buyers: 14.18x
- Employees: 0.27x

 

At 11:50 a.m.

- This IPO has been subscribed 2.58x by 11:50 AM. on Day 2
- It is a public issue of 71,12,099 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.48x
- (NII) Non-institutional buyers: 0.23x
- (RII) Retail Individual buyers: 12.82x
- Employees: 0.25x

 

At 10:40 a.m.

- This IPO has been subscribed 2.29x by 10:40 AM. on Day 2
- It is a public issue of 71,12,099 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.48x
- (NII) Non-institutional buyers: 0.20x
- (RII) Retail Individual buyers: 11.27x
- Employees: 0.23x

 

At 05:10 p.m.

- This IPO has been subscribed 1.98x by 5:10 PM. on Day 1
- It is a public issue of 71,12,099 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.48x
- (NII) Non-institutional buyers: 0.15x
- (RII) Retail Individual buyers: 9.55x
- Employees: 0.21x

 

At 04:20 p.m.

- This IPO has been subscribed 1.52x by 4:20 PM. on Day 1
- It is a public issue of 71,12,099 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.48x
- (NII) Non-institutional buyers: 0.09x
- (RII) Retail Individual buyers: 7.09x
- Employees: 0.06x

 

At 02:55 p.m.

- This IPO has been subscribed 1.52x by 2:55 PM. on Day 1
- It is a public issue of 71,12,099 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.48x
- (NII) Non-institutional buyers: 0.09x
- (RII) Retail Individual buyers: 7.09x
- Employees: 0.06x

 

At 01:45 p.m.

- This IPO has been subscribed 1.17x by 1:45 PM. on Day 1
- It is a public issue of 71,12,099 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.48x
- (NII) Non-institutional buyers: 0.05x
- (RII) Retail Individual buyers: 5.16x
- Employees: 0.04x

 

At 12:45 p.m.

- This IPO has been subscribed 0.72x by 12:45 PM. on Day 1
- It is a public issue of 71,12,099 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.03x
- (RII) Retail Individual buyers: 4.05x
- Employees: 0.03x

 

At 11:45 a.m.

- This IPO has been subscribed 0.51x by 11:45 AM. on Day 1
- It is a public issue of 71,12,099 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.01x
- (RII) Retail Individual buyers: 2.90x
- Employees: 0.01x

 

At 10:30 a.m.

- This IPO has been subscribed 0.23x by 10:30 AM. on Day 1
- It is a public issue of 71,12,099 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.01x
- (RII) Retail Individual buyers: 1.30x
- Employees: 0.00x

 

Why Should You Invest in Krsnaa Diagnostics IPO?

Krsnaa Diagnostics has a strong brand presence and is recognised as one of the top diagnostics chain companies in the country. Its widespread presence across India, along with its advanced technology, offers this company a competitive edge over its peers.

Moreover, the company’s strong financial standing will also emerge as a potential upside in the long term. Accordingly, the company could offer stable earnings to investors. Regardless, investors should find out the pros and cons of this company before subscribing to its IPO.

Financial highlights

Financial Year Total Revenue (in crores) Total Assets (in crores) Profit After Tax (in crores)
2020-21 (Till 31st December 2020) Rs. 5,627.01 Rs. 6,345.17 Rs. 1959.30
2019-20 Rs. 2,713.79 Rs. 6,299.82 (Rs. 1,119.51)
2018-19  Rs. 2,143.15 Rs. 5,289.85 (Rs. 580.57)
2017-18 Rs. 1,104.60 Rs. 2,899.65 (Rs. 601.57)

How to Apply for Krsnaa Diagnostics IPO?

You can apply for the Krsnaa Diagnostics IPO in these ways:

UPI
Link your bank account to a reliable UPI ID and register it with your Angel One account. Proceed to book Krsnaa Diagnostics IPO shares using the ID, confirm the payment on the UPI app, and block the amount for allotment.

Demat Account

1. If you are already a client of Angel One, apply directly for Krsnaa Diagnostics IPO, click here.
2. If you’re a new investor Open DEMAT Account for free with Angel Broking to begin your investment journey.

Krsnaa Diagnostics IPO – Noteworthy Highlights

Krsnaa Diagnostics has an integrated network of diagnostics centres in non-metro cities and towns. This company is recognised for offering quality diagnostic services at affordable prices. Here are some other noteworthy highlights of this company :

- It operates one of the country’s largest teleradiology reporting hubs in Pune.
- Its advanced equipment and technology help provide quality services to patients based in remote locations.
- Krsnaa Diagnostics extends 2,544 types of pathological tests and 1,394 kinds of radiology tests across multiple specialities and disciplines.
- It has around 465 pathology labs, including processing and collection centres.

Krsnaa Diagnostics IPO - SWOT Analysis

strengths

Strengths

  • Scaled Diagnostics Operation: Krsnaa Diagnostics operates in 14 states across the country with 465 pathology labs and over 2000 diagnostic centres, including collection and processing centres. Its operational base provides the company with strong financial leverage, helping it maintain a 30% operating margin as of 31 March 2020.
  • Healthy Financial Risk Profile: The management of Krsnaa Diagnostics strives to maintain a 1:1 equity-to-debt ratio, keeping its risk profile at a moderate level over the medium term.
  • Robust Infrastructure: It uses advanced technology and the best of the latest equipment in its diagnostics centres. Such modern and technologically advanced infrastructure offers it a competitive advantage in the market and helps retain and increase its customer base.
Weaknesses

Weaknesses

  • Working capital needs: The PPP segment accounts for a significant portion of its receivables, stretching the credit period between 115 and 139 days. Therefore, its working capital requirements are significantly high.
Opportunities

Opportunities

  • Growth Prospects: The diverse geographical presence and strong financials offer Krsnaa Diagnostics the flexibility to expand its scale of operation and facility units.
  • Large Government Orders: Since the pandemic hit, GOI has decided to up its investment in the healthcare sector. This opens up opportunities for the company as it receives nearly 70% of its orders from government departments as of 31 March 2020.
Threats

Threats

  • Increase in Operating Costs: The tenders Krsnaa Diagnostics receive usually feature a tenure of 7 – 10 years. The price goes up by 2 – 3% after every 3 – 5 years. Therefore, if there’s a sudden increase in its operating costs, the company may struggle.
  • Generic Products: Diagnostics centres across the country offer similar tests and methods of prognosis. This increases the competition for the company from both regional and established market players.
Strenghts Strengths
Weaknesses Weaknesses
Opportunities Opportunities
Threats Threats

Strengths

  • Scaled Diagnostics Operation: Krsnaa Diagnostics operates in 14 states across the country with 465 pathology labs and over 2000 diagnostic centres, including collection and processing centres. Its operational base provides the company with strong financial leverage, helping it maintain a 30% operating margin as of 31 March 2020.
  • Healthy Financial Risk Profile: The management of Krsnaa Diagnostics strives to maintain a 1:1 equity-to-debt ratio, keeping its risk profile at a moderate level over the medium term.
  • Robust Infrastructure: It uses advanced technology and the best of the latest equipment in its diagnostics centres. Such modern and technologically advanced infrastructure offers it a competitive advantage in the market and helps retain and increase its customer base.

Weaknesses 

  • Working capital needs: The PPP segment accounts for a significant portion of its receivables, stretching the credit period between 115 and 139 days. Therefore, its working capital requirements are significantly high.

Opportunities 

  • Growth Prospects: The diverse geographical presence and strong financials offer Krsnaa Diagnostics the flexibility to expand its scale of operation and facility units.
  • Large Government Orders: Since the pandemic hit, GOI has decided to up its investment in the healthcare sector. This opens up opportunities for the company as it receives nearly 70% of its orders from government departments as of 31 March 2020.

Threats 

  • Increase in Operating Costs: The tenders Krsnaa Diagnostics receive usually feature a tenure of 7 – 10 years. The price goes up by 2 – 3% after every 3 – 5 years. Therefore, if there’s a sudden increase in its operating costs, the company may struggle.
  • Generic Products: Diagnostics centres across the country offer similar tests and methods of prognosis. This increases the competition for the company from both regional and established market players.

Competitor Analysis: Market Peers

Krsnaa Diagnostics is a leading name in the pathology and diagnostics space. Over the years, it has strengthened its market presence to become a trusted brand. Regardless, several diagnostic centres and path labs continue to hold a significant market share. This limits the company’s scope to expand and make it more prone to losing its existing customer base. Here is a list of Krsnaa Diagnostics’ major competitors.

Market Peers  1-year Market Capitalisation Growth (as of 8 July 2021)
Apollo Hospitals 167.12%
Dr Lal PathLabs 85.77%
Metropolis Health 93.00%
Narayana Hrudayalay  68.22%
Fortis Healthcare 84.26%
Aster DM Healthcare 21.88%
Thyrocare Technologies Ltd. 106.62%
Kovai Medical Center 113.95%
Shalby 173.03%
Kaya 144.47%
Indraprastha Medical 62.37%
Artemis Medicare 117.24%
Fortis Malar Hospital 36.55%
Transgene Biotek -18.94%
Looks Health Service 521.52%
Dr Lalchandani Labs 153.40%
NG Industries 10.15%
Choksi Lab 83.11%
Chennai Meena Multi 2.80%
Tejnaksh Healthcare 115.66%
Dolphin Medical Services Ltd. 133.33%
Lotus Eye Hospital 60.69%
Medinova Diagnostic 239.00%

Krsnaa Diagnostics IPO FAQs

What is Krsnaa Diagnostics IPO?

Krsnaa Diagnostics IPO comprises a new issue of shares worth Rs. 1213 crores, comprising an offer for sale of Rs. 813 crores and fresh issue of shares of Rs. 400 crores.

When will Krsnaa Diagnostics IPO open for subscription?

Krsnaa Diagnostics will tentatively open its IPO on 4 August 2021.

What is the minimum lot size that retail investors can subscribe to?

The minimum IPO lot size that investors can subscribe to is 15 shares.

When is the Krsnaa Diagnostics IPO listing date?

The tentative listing date for Krsnaa Diagnostics is 17 August 2021.

Who are the statutory auditor and legal counsel of Krsnaa Diagnostics?

MSKA & Associates is the statutory auditor of Krsnaa diagnostics, whereas Khaitan & Co is its legal counsel.

Who is the lead manager to Krsnaa Diagnostics IPO?

JM Financial Limited, Equirus Capital Private Limited, DAM Capital Advisors Limited, and IIFL Securities Limited are the lead managers to the Krsnaa Diagnostics IPO.

Who is the registrar for Krsnaa Diagnostics IPO?

KFin Technologies Private Limited is the registrar for this IPO.

Which categories of investors can participate in Krsnaa Diagnostics IPO?

Qualified Institutional Buyers, retail individual investors, and non-institutional investors can partake in Krsnaa Diagnostics’ initial public offering.

Who are the promoters of Krsnaa Diagnostics?

Rajendra Mutha is the promoter of this company.

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