Krsnaa Diagnostics IPO subscribed 64.40 times on final day

By: |
August 06, 2021 10:10 PM

The Rs 1,213.33-crore IPO garnered bids for 45,80,08,245 shares against 71,12,099 shares on offer, according to data available with the exchanges.

Krsnaa Diagnostics IPOThe initial public offer (IPO) had a fresh issue of up to Rs 400 crore and an offer for sale of up to 85,25,520 equity shares.

The initial public offer of Krsnaa Diagnostics was subscribed 64.40 times on the final day of subscription on Friday.

The Rs 1,213.33-crore IPO garnered bids for 45,80,08,245 shares against 71,12,099 shares on offer, according to data available with the exchanges.

The category meant for Qualified Institutional Buyers (QIBs) was subscribed 49.83 times, those for non-institutional investors 116.30 times and retail investors 42.04 times.

The company’s offer was oversubscribed on the first day of subscription on Wednesday.

The initial public offer (IPO) had a fresh issue of up to Rs 400 crore and an offer for sale of up to 85,25,520 equity shares.

The issue was in a price range of Rs 933-954 per share.

Krsnaa Diagnostics earlier raised Rs 537 crore from anchor investors.

Proceeds from the fresh issue will be used for financing the cost of establishing diagnostics centres in Punjab, Karnataka, Himachal Pradesh, and Maharashtra; repayment of loans availed by the company, and general corporate purposes.

Krsnaa Diagnostics provides a range of technology-enabled diagnostic services such as imaging (including radiology), pathology/clinical laboratory and teleradiology services to public and private hospitals, medical colleges, and community health centres across India.

The company focuses on the public-private partnership (PPP) diagnostics segment and has the largest presence in the diagnostic PPP segment.

JM Financial, DAM Capital Advisors, Equirus Capital and IIFL Securities were the managers of the offer.

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