
Krsnaa Diagnostics IPO: Key Details
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Company Information
Krsnaa Diagnostics , incorporated in 2010, is one of the largest differentiated diagnostic service providers in India. They provide 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 centres pan-India.
They are the fastest-growing diagnostic chain in India on multiple parameters including operating
income, operating profit before depreciation, interest, and tax (“OPBDIT”) and profit after tax between 2017 and 2020, and volume of tests conducted between 2018 and 2021 (amongst players with
revenues exceeding ₹1,500 million).
They focus on the public-private partnership (“PPP”) diagnostics segment and have the largest presence in the diagnostic PPP segment. They have an extensive network of integrated diagnostic centres across India primarily in non-metro and lower tier cities and towns. As of June 30, 2021, they operated 1,823 diagnostic centres offering radiology and pathology services in 13 states across India.
Competitive Strengths
- Unique and scaled diagnostics company;
- Strong brand equity;
- Extensive footprint across India with robust infrastructure;
- Business model with robust revenue visibility; and
- Well positioned to capitalize on healthcare spending across public and private sectors.
Company Strategy
- Continue to expand presence across India
- Expand offering of diagnostic services with a focus on specialized diagnostics
- Grow the digital footprint
- Maintain high social impact
- Continue to improve profitability and efficiency
- Expand business and geographical footprint through opportunistic acquisitions
Proceeds from Krsnaa Diagnostics IPO will be used to:
- Proposing to finance the cost of establishing diagnostics centres at Punjab, Karnataka, Himachal Pradesh and Maharashtra.
- Repayment/pre-payment, in full or part, of borrowings from banks and other lenders availed by the Company; and
- General corporate purposes
Krsnaa Diagnostics IPO: Financials
2019 | 2020 | 2021 | |
---|---|---|---|
Revenue from Ops | ₹209.23 Cr | ₹258.43 Cr | ₹396.46 Cr |
Profit before Excep* | ₹(77.73) Cr | ₹(158.33) Cr | ₹295.45 Cr |
Profit after Tax | ₹(58.06) Cr | ₹(111.95) Cr | ₹184.93 Cr |
EPS (Basic) | (120.28) | (216.94) | 24.51 |
As of March 2020 | EPS (Avg*) | P/E (Floor) | P/E (Cap) |
---|---|---|---|
Based on basic EPS | 17.40 | 53.62 | 54.82 |
Krsnaa Diagnostics IPO: Comparison with listed industry peers
Company | P/E (Cap) |
---|---|
Krsnaa Diagnostics | 54.82 |
Highest (Dr. Lal Path) | 94.32 |
Lowest (Metropolis Health) | 77.65 |
Sector Avg | 85.99 |
Krsnaa Diagnostics IPO Dashboard
Issue Details
Type | Value |
---|---|
Issue Size | ₹1,213.33 Cr |
Fresh Issue | ₹400.00 Cr |
Offer for Sale | ₹813.33 Cr |
Face Value | ₹5/- per Equity Share |
IPO Price | ₹933 – ₹954 |
Lot Size | 15 shares |
Lots | Min 1 – Max 13 |
Key Dates
Date Type | Date |
---|---|
Bid Open | 04/08/2021 |
Bid Close | 06/08/2021 |
Allotment Finalization | 11/08/2021 |
Initiation of Refunds | 12/08/2021 |
Credit of Shares | 13/08/2021 |
Listing Date | 17/08/2021 |
Lot Size and Price
Lots | Shares | Amount |
---|---|---|
1 | 15 | ₹14,3100 |
13 | 195 | ₹1,86,030 |
Promoter Holding
Holding | Percentage |
---|---|
Pre-Issue | 74.63 % |
Post-Issue | [●] % |
Krsnaa Diagnostics IPO: Investor Quota and Shares Offered
Investor Type | Quota | Shares on Offer |
---|---|---|
QIB | 75% | [●] shares |
NII | 15% | [●] shares |
RII (Retail) | 10% | [●] shares |
Total | 100% | [●] shares |
Krsnaa Diagnostics IPO: Risks
- A substantial portion of the revenue from operations depend on payments under contracts with public
health agencies - Most of the diagnostic centres have been established and are operated under public-private partnership
contracts awarded by government agencies - Business interruption at the diagnostic centres and tele-radiology reporting hub could result in
significant losses - The prices that they can charge for diagnostic services are dependent on recommended or mandatory
fees fixed under the terms of the agreements entered into with public and private healthcare providers
For complete internal and external risk factors, you can refer to the RHP of the company.
Krsnaa Diagnostics IPO: Registrar and Lead Managers
Registrar of the Issue
KFintech (Formerly Karvy)
Selenium Tower B, Plot 31 & 32,
Financial District, Nanakramguda, Serilingampally Mandal,
Hyderabad, Telangana India – 500 032.
Phone: 1-800-309-4001
Email: [email protected]
Lead Managers of the Issue
DAM Capital Advisors Limited
Equirus Capital Private Limited
IIFL Securities Limited
JM Financial Limited
Phone: +91 22 6630 3030 / +91 22 4646 4600
Email: [email protected]