Krsnaa Diagnostics IPO Day 3: Issue subscribed 8.56 times; retail portion booked 30 times

The initial public offering of tech-enabled diagnostic services provider Krsnaa Diagnostics has been subscribed 8.56 times so far today, the third day of bidding. The offer has received bids for 6.09 crore equity shares against the IPO size of 71.12 lakh equity shares.

Retail investors subscribed 29.74 times to the IPO, and non-institutional investors 7.30 times their reserved portion. Qualified institutional buyers subscribed 2.63 times their reserved portion.

The price band for the offer, which closes today, is Rs 933-954 apiece. Brokerages have recommended a ‘buy’ for the IPO on the back of the company’s strong financial position.

Krsnaa Diagnostics is one of the largest differentiated diagnostic service providers. Its services include imaging, pathology/clinical labs, and teleradiology. It also offers its services to medical colleges and community health centres.

It focuses on the public-private partnership (PPP) of diagnostics and has the largest presence in the segment. As of June 2021, 1,797 of its centres were under the PPP agreement with public health agencies.

(As per subscription data available on exchanges till 12:25 am) 

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