Krsnaa Diagnostics public issue opens from Aug 4-6th 2021
Healthcare

Krsnaa Diagnostics public issue opens from Aug 4-6th 2021

Price band in the range of Rs 933 to Rs 954

  • By IPP Bureau | August 02, 2021

Krsnaa Diagnostics, a leading diagnostics chain with an ambition to scale up operations across states is proposing a public offer of fresh issue of equity shares aggregating up to Rs 400 crore and an Offer for Sale of up to 8,525,520 equity shares. The price band is Rs 933 to Rs 954 per share and the Bid lot is 15 Shares and in multiples thereof. The gross issue size is between Rs 1,195 to Rs 1,213 crore.

The net proceeds from the IPO will be utilised to finance the cost of establishing diagnostics centres in Punjab, Karnataka, Himachal Pradesh and Maharashtra. Repayment/pre-payment of firm’s borrowing fully or partially and general corporate purposes

The company 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.

The firm has an extensive network of diagnostic centres across India with a key focus on non-metro, and lower-tier cities and towns. As of December 31, 2020, it operates 1,801 diagnostic centres that are offering radiology and pathology services across 13 different cities in India. In fiscal 2020, the business has served 5.27 million patients.

The company operates one of India’s largest teleradiology reporting hubs in Pune that can process large volumes of X-rays, CT scans and MRI scans round the clock and 365 days a year. Krsnaa provides quality and inclusive diagnostic services at affordable rates. Since its inception, they have served more than 23 million patients. As of June 30, 2021, they had a team of 190 radiologists, 30 pathologists, 8 microbiologists and more than 2,800 qualified professionals including clinicians, technicians and operators. Krsnaa focuses on the public-private partnership (“PPP”) diagnostics segment. Their PPP agreements are typically long-term in nature and ensure the predictability of their revenues from operations.

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