Krsnaa Diagnostics
IPO Size
`1,213.33 Cr
Price Band
`933-954 Per Share
Minimum Lot Size
15 Share
Face Value
`5 Per Share
Employee Discount
`93 Per Share
Retail Allocation
10%
Issue Open Date
04 Aug, 2021
Issue Close Date
06 Aug, 2021
Listing Date
IPO Size
Price Band
Minimum Lot Size
Face Value
Employee Discount
Retail Allocation
Issue Open Date
Issue Close Date
Listing Date
About the Company:
Krsnaa Diagnostics is one of the largest differentiated diagnostic service providers in India. The diagnostics chain 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. The company operates one of India’s largest tele-radiology reporting hubs in Pune that is able to process large volumes of X-rays, CT scans and MRI scans round the clock and 365 days a year, and which allows them to serve patients in remote locations where diagnostic facilities are limited. The firm provides quality and inclusive diagnostic services at affordable rates across various segments. Since inception, we have served more than 23 million patients.
Krsnaa Diagnostics has an extensive network of integrated diagnostic centres across India primarily in non-metro and lower tier cities and towns. As of June 30, 2021, the firm operated 1,823 diagnostic centres offering radiology and pathology services in 13 states across India. Their operating model involves diagnostic centres operated under a hospital-partnership model. These diagnostic centres are located within existing facilities of public and private hospitals or community health centres, and operated pursuant to arrangements with public health agencies and private healthcare providers.
Outstanding Litigation:
| S.No. | 1 - Company | 2 - Promoters | 3 - Directors | |||
| Entity Name | By the Company | Against the Company | By the Promoters | Against the Promoters | By the Directors | Against the Directors |
| Criminal cases | 1 | - | - | - | - | - |
| Material civil cases | - | - | - | - | - | - |
| Taxation matters | - | - | - | 1 | - | - |
| Regulatory Procedings | - | - | - | - | - | 1 |
| Amt. (In Million Rs.) | Non Quantifiable | - | - | 0.4 | - | Non Quantifiable |
Financial Statements:
| Income Statement (In Millions) | FY21 | FY20 | FY19 | |
| Gross Operating Income | 6614.76 | 2713.79 | 2143.15 | |
| Cost of Employee & Inventory | 2215.35 | 3034.2 | 1934.83 | |
| Other Expenses | 811.1 | 692.16 | 533.49 | |
| EBITDA | 3588.31 | -1012.57 | -325.17 | |
| Depreciation | 374.39 | 324.11 | 256.40 | |
| Interest | 259.4 | 246.64 | 195.69 | |
| Profit Before Tax | 2954.52 | -1583.32 | -777.26 | |
| Tax | 1105.23 | -463.81 | -196.69 | |
| Profit After Tax | 1849.29 | -1119.51 | -580.57 | |
The promoter of the company is Rajendra Mutha.
The company will face tough competition from Dr. Lal Path Labs, SRL, Thyrocare, Vijaya, Suburban and Metropolis Healthcare.
The object of the Offer for Sale is to allow Phi Capital, Kitara, Somerset and Lotus Management Solutions to sell an aggregate of up to 8.5 million equity Shares held by them amounting at Rs. 813.33 cr. The company will not receive any proceeds from the Offer for Sale.
The company has planned to raise fresh capital comprising an aggregate of 41,92,872 equity shares having Face Value ₹5 aggregating up to Rs. 400 Cr at the upper price band of Rs. 954. Out of the net proceeds, an amount of Rs. 150.8 cr. will be allocated for establishing diagnostics centres at Punjab, Karnataka, Himachal Pradesh and Maharashtra, an amount of Rs. 146 cr. will be utilized for prepayment/repayment of certain borrowing by the company while rest will be utilized for general corporate purpose.