The shares of Krsnaa Diagnostics got listed at a premium of 7.45 percent or Rs 71 on the BSE over its issue price of Rs 954. The shares listed at Rs 1,025 on BSE and Rs 1,005 on NSE, up 5.4 percent or Rs 51.

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At the issue price, Krsnaa Diagnostics commanded a market cap of Rs 3,218 crore. The public offering comprised of fresh issue of shares worth Rs 400 crore and an offer for sale of shares worth over Rs 800 crore.

Krsnaa Diagnostics is one of the largest differentiated diagnostic service providers in the country. It specialises in tech-powered services like imaging (including radiology), pathology and clinical labs, and teleradiology services to various private and public hospitals.

On the third day of bidding, the issue of Krsnaa Diagnostics saw a massive subscription of 64.40 times. The qualified institutional buyers had put in bids for nearly 50 times their reserved portion. Whereas, non-institutional buyers had subscribed to the IPO 116 times. The part set aside for retail investors was subscribed over 42 times and the employees' portion was subscribed 98 percent.

With the proceeds from the issue, the company plans to establish diagnostics centres in Punjab, Karnataka, Himachal Pradesh, and Maharashtra. It also plans to pay off debts from a portion of the proceeds.

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First Published:Aug 16, 2021 10:02 AM IST