Krsnaa Diagnostics IPO will be open from August 4 to August 6. Devyani International, Windlas Biotech, and Exxaro Tiles are the other IPOs that will be opened tomorrow. Here is a list of things to be noted before subscribing to the IPO:
1. Date
The IPO will be open from August 4 to August 6. The bidding for anchor investors will be open only for one day, August 3.
2. Price Band
The price band has been fixed at Rs. 933 to Rs. 954 per equity share. The upper end of the band will be Rs 1,213.33 crore
3. The IPO
As a part of the OFS, Phi Capital will sell 16 lakh equity shares, Kitara will offload 33,40,713 equity shares, Somerset Indus Healthcare Fund I Ltd will offer 35,63,427 equity shares and Lotus Management Solutions will sell 21,380 equity shares, The Indian Express reported.
4. The objective of the IPO
The proceedings collected from the IPO will be used to establish diagnostics centers in Punjab, Karnataka, Himachal Pradesh, and Maharashtra.
5. Company Profile
Krsnaa Diagnostics Limited is India’s largest diagnostics provider. It has around 1,823 diagnostic centers across 13 states. The center provides imaging, pathology and clinical laboratories, and radiology services to public and private hospitals.
6. Risks (if any)
The COVID-19 pandemic may impact the operations and financial situation of the company. According to Bloomberg Quint, a substantial portion of its revenue from operations depends on payments under contracts with public health agencies. If it fails to negotiate and retain similar fee arrangements, and if contracts are canceled, its business may be adversely affected.
The equity shares will be finalized on August 17. It will be listed on both BSE and NSE websites.
