Krsnaa Diagnostics IPO: Issue subscribed 5.42 times on Day 2, retail portion booked 22.09 times
Krsnaa Diagnostics shares were trading at a premium of Rs 370-400 in the grey market, the IPO Watch and IPO Central data showed
August 05, 2021 / 05:45 PM IST
Krsnaa Diagnostics' initial public offering (IPO) had been subscribed 5.42 times, receiving bids for 3.85 crore equity shares against an offer size of 71.12 lakh shares, subscription data published by exchanges on August 5 morning shows.
Retail investors put in bids 22.09 times their reserved portion while employees had bid for 52 percent of the portion set aside for them. Qualified institutional buyers' portion was subscribed 51 percent and that of non-institutional investors 4.76 times.
Also read: Krsnaa Diagnostics IPO opens: Should you subscribe?
Krsnaa Diagnostics shares traded at a premium of Rs 370-400 in the grey market, the IPO Watch and IPO Central data showed. It translates to a trading premium of 38.8-41.9 percent over the higher end of the price band of Rs 933-954.
The grey market is an unofficial trading platform where shares get traded well before the allotment in the IPO and listed on bourses.
Krsnaa Diagnostics is one of the largest differentiated diagnostic service providers in India. It offers 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.
Also read: Krsnaa Diagnostics IPO opens; 10 things to know about the public issue
The company is planning to raise Rs 1,213.33 crore through public issue which comprises a fresh issue of Rs 400 crore and an offer for sale of Rs 813.33 crore by selling shareholders.
"We like unique and scaled business model of company. The company with its strong brand equity has extensive footprint across India with robust infrastructure. With robust revenue visibility, the company is well positioned to capitalize on healthcare spending across public and private sectors," said Hem Securities, which recommended a subscribe on issue both for listing gains and long term perspective.Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.