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Krsnaa Diagnostics files IPO papers with SEBI

17 May 2021 Evaluate

Krsnaa Diagnostics has filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offer (IPO). The IPO comprises fresh issue of equity shares worth Rs 400 crore and an offer for sale (OFS) of up to 94,16,377 shares by its existing shareholders.

Proceeds from the fresh issue will be used for financing the cost of establishing diagnostics centres at Punjab, Karnataka, Himachal Pradesh, and Maharashtra; repayment of loans availed by the company and general corporate purposes. JM Financial, DAM Capital Advisors, Enquires Capital, and IIFL Securities have been appointed as merchant bankers to advise the company on the IPO.

Krsnaa Diagnostics provides 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.

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