<article>Krsnaa Diagnostics Ltd has filed a draft red herring prospectus (DRHP) with the Securities Exchange Board of India to raise funds via initial public offering (IPO).</article>

Krsnaa Diagnostics Ltd has filed a draft red herring prospectus (DRHP) with the Securities Exchange Board of India to raise funds via initial public offering (IPO).
On 2 April, Mint was the first to report that the firm has begun preparations for an IPO to raise as much as ₹1,200 crore.
The IPO will consist of a fresh issue of ₹400 crore and an offer for sale (OFS) of up to 9.42 million shares by its existing promoters and shareholders.
An OFS comprises sale of 1.6 million shares by PHI Capital Trust-PHI Capital Growth Fund-I, up to 3.34 million shares by Kitara PIIN 1104, up to 4.45 million shares by Somerset Indus Healthcare Fund I Ltd, and up to 21,380 shares by Lotus Management Solutions.
The firm said it is in consultation with its book running managers to raise a pre-IPO placement of ₹200 crore from anchor investors.
JM Financial Ltd, DAM Capital Advisors Ltd, Enquires Capital Pvt, and IIFL Securities are the book running managers to the issue.
The proceeds from the issue of ₹150.81 crore will be used for financing the cost of establishing diagnostics centers at Punjab, Karnataka, Himachal Pradesh, and Maharashtra.
The firm will use ₹125.70 crore for repayment of certain borrowings availed by it. As of December 2020, the total indebtedness under the various financing arrangements of the Company aggregated to ₹232.50 crore.
For the nine-month ended December 2020, total income of the company stood at ₹562.70 crore versus ₹199.55 crore a year ago. Net profit for the period stood at ₹196.01 crore against a net loss of ₹46.73 crore last year.
The firm is a large and differentiated diagnostic service provider. 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 across India.
The company focuses on the public private partnership (PPP) diagnostics segment, and has the largest presence in the diagnostic PPP segment. As of December 2020, the company had 1,781 diagnostic centres pursuant to PPP agreements with public health agencies.
This article was first published on <a href="https://www.livemint.com/market/ipo/diagnostics-chain-krsnaa-files-drhp-to-raise-funds-via-ipo-11621150049178.html">livemint.com</a>.

The IPO will consist of a fresh issue of ₹400 crore and an offer for sale (OFS) of up to 9.42 million shares.

Indian diagnostics chain Krsnaa files papers to raise funds via IPO

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Indian diagnostics chain Krsnaa files papers to raise funds via IPO

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