Krsnaa Diagnostics IPO: Price Band Fixed At Rs 933 – 954 Per Share, Size Will Be Close To Rs 1213 Crore

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Krsnaa Diagnostics has fixed the price band of its IPO at Rs 933-954 per share. This IPO will open on 4th August and close on 6th August.

With this the company plans to raise Rs 1213.76 crore. New shares worth Rs 400 crore will be issued in the IPO. 

Apart from this, there will be an offer for sale (OFS) for the sale of 85.3 lakh shares on behalf of the existing promoters and shareholders.

In OFS, 16 lakh shares were sold by PHI Capital Trust-PHI Capital Growth Fund-I, 33.4 lakh shares by Kitara PIIN 1104, 35.6 lakh shares by Somerset Indus Healthcare Fund and approximately 21,380 shares by Lotus Management Solutions Will go

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JM Financial Ltd, DAM Capital Advisors Ltd, Inquires Capital Pvt Ltd and IIFL Securities are the Book Running Lead Managers for the IPO.

The funds from the public offer will be used to set up diagnostic centers in Punjab, Karnataka, Himachal Pradesh and Maharashtra.

Apart from this, the company will use about Rs 125 crore to repay the loan. 

At the end of June, the company had a debt of about Rs 142 crore.

The total income of the company increased to Rs 661.48 crore in the last financial year as compared to Rs 271.38 crore in the previous financial year. 

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The net profit of the company increased from Rs 111.95 crore to Rs 184.93 crore.

Public offers of about 18 companies can come next month. Due to the stock markets trading near their high levels and sufficient liquidity, the number of companies raising funds through IPOs has increased.

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