Krsnaa Diagnostics IPO: All You Need To Know

Krsnaa Diagnostics Ltd. will launch its Rs 1,213-crore initial public offering on Wednesday as private equity investors look to pare holdings and the company aims to expand, lower borrowings.

The diagnostics services provider will sell its shares at Rs 933-954 apiece, seeking a market value of Rs 2,994 crore at the upper end of the price band. 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 promoter shareholding will fall to 27.4% after the IPO from 31.6%, while the rest will be held by the public. Before the float, however, promoters had raised their holding in the company by 3.8% via rights issue priced at par face value of Rs 10. Subsequently, the company has split its shares into two of Rs 5 each.

JM Financial, DAM Capital Capital, Equirus and IIFL Securities are the book-running lead managers to the issue.

Issue Details

  • Issue Opens On: Aug. 4.

  • Issue Closes On: Aug. 6.

  • Face Value: Rs 5 per share.

  • Lot Size: 15 shares and multiples.

  • Listing: BSE and NSE.

Continue Reading. Read more on IPOs by BloombergQuint.

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