Krsnaa Diagnostics IPO subscribed 5.35 times on Day-2

The initial public offer of Krsnaa Diagnostics was subscribed 5.35 times on the second day of subscription on Thursday.

The Rs 1,213.33-crore IPO received bids for 3,80,33,730 shares against 71,12,099 shares on offer, as per data available with the NSE.

Category-wise, the Qualified Institutional Buyers(QIBs) portion was subscribed 50 per cent, non-institutional investors 4.71 times, and retail individual investors 21.74 times.

Its offer was oversubscribed on the first day of subscription on Wednesday.

Krsnaa Diagnostics' initial public offer comprises a fresh issue of up to Rs 400 crore and an offer for sale of up to 85,25,520 equity shares.

The price range for the offer has been fixed at Rs 933-954 per share.

Krsnaa Diagnostics has raised Rs 537 crore from anchor investors.

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.

Krsnaa Diagnostics provides a range of technology-enabled diagnostic services such as imaging (including radiology), pathology/clinical laboratory and teleradiology services to public and private hospitals, medical colleges, and community health centers pan-India.

The company focuses on the public-private partnership (PPP) diagnostics segment and has the largest presence in the diagnostic PPP segment.

JM Financial, DAM Capital Advisors Limited, Equirus Capital Private Limited, and IIFL Securities are the managers of the offer.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)