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Krsnaa Diagnostics IPO Subscribed 1.98 Times On Day 1

Get the latest subscription updates from day 1 of Krsnaa Diagnostics IPO.

<div class="paragraphs"><p>A&nbsp;tomography  scanner stands in the diagnostic imaging area. (Photographer: Xaume Olleros/Bloomberg)</p></div>
A tomography scanner stands in the diagnostic imaging area. (Photographer: Xaume Olleros/Bloomberg)

The Rs 1,213-crore initial public offering of Krsnaa Diagnostics Ltd. fully subscribed on the first day, led by demand from retail investors.

The diagnostics services provider has set a price band of Rs 933-954 apiece, seeking a market value of Rs 2,994 crore at the upper end. The IPO, according to its red herring prospectus, comprises a fresh issue of Rs 400 crore and a Rs 813.3-crore offer-for-sale by private equities.

The company plans to use Rs 150 crore to set up 29 diagnostic centres across Punjab, Maharashtra, Karnataka and Himachal Pradesh. It also plans to repay/pre-pay debt worth Rs 146 crore to the lenders in the current financial year. The company’s total borrowings stood at Rs 231.7 crore as of March 2021.

Besides Krsnaa Diagnostics, Devyani International Ltd., Windlas Biotech Ltd. and Exxaro Tiles Ltd. launched their maiden offers on Aug. 4. The IPOs will close on Aug. 6.

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Krsnaa Diagnostics IPO: All You Need To Know

Subscription Details: Day 1

The IPO was subscribed 1.98 times as of 5 p.m. on Aug. 4.

  • Institutional investors: 0.48 times

  • Non-institutional investors: 0.15 times

  • Retail investors: 9.59 times

  • Employees: 0 times