Krsnaa Diagnostics Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹954
Per ShareLot Size
15 Shares
Minimum Investment
₹14,310
Issue Size
₹1,195.43 Cr
Face Value
₹5
Per ShareIPO Type
Book Building
Retail Quota
10%
QIB Quota
75%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Krsnaa Diagnostics Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
29.53%
Issue Type
Book Building
ISIN
INE08LI01020
About the Company
Krsnaa Diagnostics Limited is one of the largest differentiated diagnostic service provider in India. It 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. It focuses on the public private partnership ("PPP") diagnostics segment and have the largest presence in the diagnostic PPP segment. It operates an extensive network of diagnostic centres across India and as of June 30, 2021, the company operated 1,823 diagnostic centres offering both radiology and pathology services in 13 states across India.
Industry Overview
The diagnostic industry in India has been estimated to be between Rs. 710 billion and Rs. 730 billion in Fiscal 2021, clocking a CAGR of 13% to 14% between Fiscal 2017 and Fiscal 2020, mirroring the growth from healthcare delivery services. The industry is expected to grow at approximately 15% and achieve a value of Rs. 920 billion to Rs. 980 billion between Fiscal 2021 and Fiscal 2023. Going forward, the government's share within the diagnostic industry is projected to grow at a CAGR of between 14% and 17% to Rs. 135 billion between Fiscal 2020 and Fiscal 2023, driven by government-led programs, extensive PPP models and increasing focus towards healthcare at municipal corporation level.
Company History
Krsnaa Diagnostics Limited (the "Company" or the "Issuer") was originally incorporated as `Krsna Diagnostics Private Limited' at Pune, Maharashtra as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated December 22, 2010, issued by the Registrar of Companies, Maharashtra at Pune ("RoC"). The name of the Company was subsequently changed to `krsnaa Diagnostics Private Limited', pursuant to a fresh certificate of incorporation issued by the RoC on January 29, 2015. Thereafter, the Company was converted into a public limited company pursuant to a special resolution passed in the extraordinary general meeting of the Shareholders of the Company held on April 25, 2021 and consequently the name of the Company was changed to its present name pursuant to a fresh certificate of incorporation issued by the RoC on May 6, 2021.
Products & Services
- The Company provides specialized diagnostic imaging(including radiology), pathology/clinical laboratory and tele-radiology services
Growth Strategy
- Continue to expand presence across India
- Expand its offering of diagnostic services with a focus on specialized diagnostics
- Grow its digital footprint
- Maintain high social impact
- Continue to improve profitability and efficiency
- Expand its business and geographical footprint through opportunistic acquisitions
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY23 to FY25.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offering of up to 12,731,605 equity shares of face value of Rs. 5 each ("Equity shares") of the company for cash at a price of Rs. 954* per equity share (Including a premium of Rs. 949 per equity share) ("offer price") aggregating up to Rs. 1213.34 Crores ("offer"). The offer comprises of a fresh issue of 4,206,085 equity shares aggregating to Rs. 400 Crores ("fresh issue") and an offer for sale of 8,525,520 equity shares ("offered shares") aggregating to Rs. 813.34 Crores, comprising 1,600,000 equity shares aggregating to Rs. 152.64 Crores by PHI CAPITAL TRUST-PHI CAPITAL GROWTH FUND-I, ("selling shareholder 1"), 3,340,713 equity shares aggregating Rs. 318.70 Crores by KITARA PIIN 1104 ("selling shareholder 2"), 3,563,427 equity shares aggregating to Rs. 339.95 Crores by SOMERSET INDUS HEALTHCARE FUND I LIMITED ("selling shareholder 3") and 21,380 equity shares aggregating to Rs. 2.04 Crores by LOTUS MANAGEMENT SOLUTIONS (Acting through Mayur Sirdesai) ("selling shareholder 4") and together with selling shareholder 1, selling shareholder 2 and selling shareholder 3, the "Selling Shareholders" and such offer, the "offer for sale". The offer includes an allotment of 135,540 equity shares aggregating to Rs. 11.67 Crores, to eligible employees (the "employee reservation portion"). The offer less the employee reservation portion is hereinafter referred to as the "Net offer". The offer and the net offer will constitute 40.55% and 40.12% of the post-offer paid up equity share capital of the company. The Face Value of Equity Shares is Rs. 5 each. Offer Price : 954 per Equity Share of face value of Rs. 5 each. Anchor Investor Offer Price : Rs. 954 per equity share. Employee Offer Price After Employee Discount : Rs. 861 per Equity Share. The Offer Price is 190.80 Times the face value.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Unique and scaled diagnostics company;
- Strong brand equity;
- Extensive footprint across India with robust infrastructure;
- Business model with robust revenue visibility;
- Well positioned to capitalize on healthcare spending across public and private sectors.
- A substantial portion of its revenue from operations depend on payments under contracts with public health agencies. If the company is unable to negotiate and retain similar fee arrangements, if the contracts are cancelled, or if it is unable to realize payments due to the company its business may be materially and adversely affected.
- Most of its diagnostic centres have been established and are operated under public private partnership contracts awarded by government agencies through a competitive bidding process. There can be no assurance that it will qualify for, or that it will successfully compete and win such tenders.
- The COVID-19 pandemic may significantly affect its results of operations, financial position and cash flows.
- The Company relies on its information technology systems and the telecommunication network in India in providing its diagnostic services and managing its operations, and any disruption to such systems or networks could adversely affect its business operations, reputation and financial performance.
- Business interruption at its diagnostic centres and its tele-radiology reporting hub could result in significant losses and reputational damage to its business.