The three-day initial public offer (IPO) will open for public subscription on August 4 and conclude on August 6. The bidding for anchor investors will open on August 3, the company said in a virtual press conference.
The IPO comprises fresh issue of equity shares worth Rs 400 crore and an offer for sale (OFS) of up to 8,525,520 equity stocks by its existing shareholders.
As a part of the OFS, Phi Capital will sell 16 lakh equity shares, Kitara will offload 33,40,713 equity shares, Somerset Indus Healthcare Fund I Ltd will offer 35,63,427 equity shares and Lotus Management Solutions will sell 21,380 equity shares.
At the upper end of the price band, the IPO is expected to mobilise Rs 1,213.3 crore.
Proceeds from the fresh issue will be used for financing the cost of establishing diagnostics centers at Punjab, Karnataka, Himachal Pradesh, and Maharashtra; repayment of loans availed by the company and general corporate purposes.
The company said investors can bid for a minimum of 15 equity shares and in multiples of 15 thereafter.
JM Financial Ltd, DAM Capital Advisors Ltd, Enquires Capital Pvt, and
are merchant bankers to the issue.
Krsnaa Diagnostics provide a range of technology-enabled diagnostic services such as imaging (including radiology), pathology/clinical laboratory and tele-radiology services to public and private hospitals, medical colleges and community health centres pan-India.
The company focuses on the public private partnership (PPP) diagnostics segment, and has the largest presence in the diagnostic PPP segment.
As of June 2021, the company operated 1,823 diagnostic centres offering both radiology and pathology services in 13 states across the country.