Krsnaa Diagnostics IPO: Firm to go public on Aug 4; See allotment dates, price band & more

One of the fastest-growing diagnostic chains in India, Krsna Diagnostics Limited, is making its debut in the market with its initial public offering (IPO). The company is expecting an issue size of Rs 1,213.33 crore on the opening day, August 4.  The company IPO's fresh issue was listed as aggregating up to Rs 400 at Rs 5 per equity share while the offer for sale (OFS) was listed as Rs 813.33 crore with 8,525,520 equity shares with the same face value of Rs 5 per share. 

As of July 31, the company's Grey Market Premium (GMP) was listed as Rs 450 on IPO, implying that the IPO was trading premiums on the grey market at Rs 1,383 to Rs 1,404 per equity share. The price band for the IPO of Krsnaa Diagnostics has been fixed at Rs 933 to Rs 954 per equity share. 

The IPO has a minimum lot size of 15 shares with Rs 14,310 as the minimum application amount. The higher end of the issue’s lot stands at 195 shares with a cap of Rs 186,030 as the application amount. In this lot, the portion allotted for retail investors is 13 lots to which they can apply at the upper limit. 

Qualified institutional buyers have put in bids for 75 per cent against their reserved portion. The non-institutional investors' category has a reservation of 15 per cent while the retail investors have a 10 per cent allocation.

Important dates

August 4 is the opening day of the issue and will close on August 6. The issue will remain open for subscription for 3 trading days. Any anchor bookings that happen will likely take place on the day before opening, on August 3.

The basis of allotment will take place a day after the company closes its subscription. As of now, August 11 is the date for allotment. And on August 12, the refunds will be initiated. On August 13, the successful bidders will see their shares credited to their respective Demat accounts. The listing data is likely to happen on August 17 that is yet to be confirmed. 

About Krsnaa Diagnostics

Incorporated in 2010, Krsnaa Diagnostics offers a wide range of diagnostic services such as imaging/radiology services (X-rays, MRI, etc.), routine clinical laboratory tests, pathology, and teleradiology services to private and public hospitals, medical colleges, and community health centres.

As of December 31, the company has over 1,801 diagnostic centres offering radiology and pathology services in 13 different cities. 

(Image credit: PTI/UNSPLASH)