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Krsnaa Diagnostics Ltd is set to open for initial public offering on August 4 along with three more companies – Windlas Biotech, Devyani International and Exxaro Tiles. The IPO will be open for three days and will close on August 6. The company has fixed the price band at Rs 933 to Rs 945 apiece.
The issue consists of offer for sale of 85,25,520 equity shares totalling to Rs 813.33 crore by existing shareholders and fresh issue totalling of Rs 400 crore. Anchor investors can subscribe to the shares on August 3, one day before the IPO opens for the public.
Company Summary
Krsnaa Diagnostics is one of the leading diagnostic service provider providing a range of technology enabled services such as radiology, clinical laboratory, patholology and tele-radiology. Krsnaa’s diagnostic imaging/radiology services include conducting X-rays, computed tomography (“CT”) scans, magnetic resonance imaging (“MRI”) scans, ultrasounds, bone mineral densitometry and mammography. The company’s pathology segment focuses on biochemistry, microbiology, serology, immunology, haematology, clinical pathology, histopathology and cytopathology.
The company focuses on public private partnership (PPP) diagnostic segment and they have grown to be the largest player in the diagnostic PPP segment. They have a network of integrated diagnostic centres across India with a major presence in non-metro and lower tier cities and towns. As of December 2020, the company operates 1,801 diagnostic centres. The centres are located in public hospitals, private hospitals and community health centres. In FY2020, they served 52.7 lakhs patients and in the nine months ended December 2020, Krsnaa served 35.8 lakhs patients.
Company Strengths
- Strong brand equity with providing quality and reliable healthcare services at competitive and affordable prices
- Wide and extensive footprint across India with robust infrastructure
- Consistent financial performance with cost efficient structure
- Well positioned to capitalize on healthcare spending across public and private sectors
Company Promoters
Rajendra Mutha is the promoter of the company. He is also the executive chairman and whole-time director on the board of the company.
Financial Summary
Particulars | For the year/period ended (Rs in crore) | ||
31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |
Total Assets | 604.53 | 629.98 | 528.98 |
Total Revenue | 661.47 | 271.37 | 214.31 |
Total Expenses | 366.02 | 429.71 | 292.04 |
Profit After Tax | 184.92 | -111.95 | -58.05 |
Purpose of the IPO
- The company is expected to finance the cost of establishing diagnostics centres at Punjab, Karnataka, Himachal Pradesh and Maharashtra amounting Rs 1,508.10 crore
- Repayment and pre-payment, in full or part, of certain borrowings availed by our Company amounting to Rs 1,257 crore
- General corporate purposes
IPO Details
|
IPO Opening Date |
August 4, 2021 |
|
IPO Closing Date |
August 6, 2021 |
|
Issue Type |
Book Built Issue IPO |
|
Face Value |
₹5 per equity share |
|
IPO Price |
₹933 to ₹954 per equity share |
|
Market Lot |
15 Shares |
|
Min Order Quantity |
15 Shares |
|
Listing At |
BSE, NSE |
|
Issue Size |
Rs 1,213.33 crore |
|
IPO Listing Date |
Aug 17, 2021 |
IPO Lot Size
Application | Lots | Shares | Amount (Cut-off) |
Minimum | 1 | 15 | Rs 14,310 |
Maximum | 13 | 195 | Rs 1,86,030 |
To read more about other IPOs on August 4, click the respective links below