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Krsnaa Diagnostics: Initial Public Offer to Open on August 4

Krsnaa Diagnostics ltd

The Initial Public Offer (IPO) of Krsnaa Diagnostics Ltd will open for bidding on 4 August 2021 and close on 6 August 2021. The company’s IPO will comprise a new issue of Rs 400 crore. It also includes an offer for sale of up to 8.53 million or 85.30 lakh shares by the company’s existing promoters and shareholders.

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The Offer for Sale (OFS) comprises the sale of 1.6 million or 16 lakh shares by PHI Capital Trust-PHI Capital Growth Fund-I, up to 3.34 million or 33.4 shares by Kitara PIIN 1104, up to 3.56 million or 35.6 lakh shares by Somerset Indus Healthcare Fund I Ltd and up to 21,380 shares by Lotus Management Solutions.

Also read: KRSNAA Diagnostics, Fujifilm sign contract for digitalisation of X-Ray centres

The Pune-based diagnostics chain will use the proceeds from the issue of Rs 150.81 crore for financing the cost of setting up diagnostics centres in Punjab, Himachal Pradesh, Maharashtra, and Karnataka. It will use Rs 125.70 crore to repay borrowings. Its total indebtedness under the various financing arrangements totaled at Rs 141.73 crore as of June 2021.

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