you are here: HomeNewsBusinessIPO

Krsnaa Diagnostics files IPO papers with Sebi

New Delhi, May 16 Krsnaa Diagnostics Ltd has filed draft papers with capital markets watchdog Sebi to raise funds through an initial share sale. ..

May 16, 2021 / 04:46 PM IST

Krsnaa Diagnostics has filed draft papers with capital markets watchdog Sebi to raise funds through an initial share sale. The IPO comprises fresh issue of equity shares worth Rs 400 crore and an offer for sale (OFS) of up to 94,16,377 shares by its existing shareholders, according to the draft red herring prospectus (DRHP).

Those offering shares in the OFS are Phi Capital, Kitara, Somerset Indus Healthcare Fund I Ltd and Lotus Management Solutions. The company, in consultation with its merchant bankers, may consider to raise Rs 200 crore in the pre-IPO placement.

Proceeds from the fresh issue will be used for financing the cost of establishing diagnostics centres at Punjab, Karnataka, Himachal Pradesh, and Maharashtra; repayment of loans availed by the company and general corporate purposes.

Krsnaa Diagnostics provides 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.

To Know All IPO Related News, Click Here

Close

The company focuses on the public private partnership (PPP) diagnostics segment, and has the largest presence in the diagnostic PPP segment. As of December 2020, the company operated 1,801 diagnostic centres offering both radiology and pathology services in 13 states across the country.

JM Financial, DAM Capital Advisor, Enquires Capital, and IIFL Securities have been appointed as merchant bankers to advise the company on the IPO.
PTI
first published: May 16, 2021 04:46 pm

stay updated

Get Daily News on your Browser
Sections