Krsnaa Diagnostics is likely to finalise the share allotment status of its Rs 1,213.3-crore initial public offering (IPO) on Thursday, according to KFin Technologies website. The issue saw a healthy response from the investors. It was subscribed 64.40 times over the 71.12 lakh shares. Krsnaa Diagnostics IPO comprises a fresh issue of equity shares worth Rs 400 crore and an offer for sale (OFS) of up to 8,525,520 equity stocks by its existing shareholders. The proceeds from the fresh issue will be used for financing the cost of establishing diagnostics centers at various parts of the country and for repayment of loans.
Investors can check the share allotment status in two ways a) via BSE b) via registrar’s website. Investors applied for Krsnaa Diagnostics IPO can see the share allotment status on August 12. Those who will not get shares on Thursday, is expected to get their refunds by Friday. Eligible investors will get Krsnaa Diagnostics shares in their demat accounts after that.
How to Check Krsnaa Diagnostics IPO Allotment Status via BSE
1) Go to the official BSE website via the URL(https://www.bseindia.com/investors/appli_check.aspx).
2) It will take you to a page called ‘Status of Issue Application’. There you need to select the ‘Equity’ option.
3) Select ‘Krsnaa Diagnostics Limited’ from the drop-down menu that is besides the issue name.
4) Input your application number and the Permanent Account Number (PAN). Then you just click the ‘I am not a robot’ to verify yourself and click ‘Search’. This will show you the status of the application.
How to Check Krsnaa Diagnostics Limited Share Allotment Status via the Registrar’s Website (KFin Technologies Private Limited)
1) Go to the web portal of KFin Technologies Private Limited -https://ris.kfintech.com/ipostatus/ipos.aspx
2) Select the IPO in dropbox where the name will be populated. This option will open only after the allotment is finalised
3) You have to select either one of the three modes: application number, client ID or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Then you need to enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately and hit submit
Krsnaa Diagnostic IPO Grey Market Premium
The unlisted shares of Krsnaa Diagnostic was trading at Rs 320-330 in the grey market, over the issue price of Rs 933-954 per share. The grey market premium was nearly 35 per cent higher than the issue price on August 12. “Krsnaa Diagnostic IPO priced at PE levels of 77.9x. Krishnaa Diagnostic has a weak balance sheet with negative net worth in FY2020. So we don’t expect Krishna to give very big listing gains. On grey market premium, as per the market news GMP has come down slightly for the for Krsnaa Diagnostics IPO in the last couple of days and currently trading at ₹320-₹330. So grey market signalling a good listing for Krishnaa Diagnostic IPO,” said Yash Gupta Equity research associate, Angel Broking Ltd.
“Started in 2010, Krsnaa Diagnostics is one of the fastest-growing diagnostic chains in India. During FY18-21, KDL’s revenue / EBITDA / Adj PAT grew at a CAGR of 54.5%/ 50.0% / 102.2% to INR 397 cr / INR 94 cr / Rs 32 crore, respectively. However, EBITDA margins deteriorated by 218bps (to 23.7%) due to a rise in the sourcing cost of medical consumables, which resulted in a 202bps decline in RoIC to 19.5% in FY21. The adjusted PAT margin improved by 447bps to 8.1%, which resulted in a positive RoE of 13.8%. The company reported a negative RoE of 16.9% in FY18 due to its negative networth of Rs 23 crore. We expect KDL to grow its revenue at a CAGR of 39.8% to Rs 1,083 crore over the period of FY21-24E. EBITDA and PAT over the same period are set to grow at a CAGR of 41.1% to INR 264 cr and 71.5% to Rs 161 crore, respectively,” said Ventura Securities in a note.
“With a strong countrywide network and dominant position in the PPP space, the
company has strong moats around its business. We believe that the company is a good bet to benefit from growing demand for diagnostic centers in Tier II & III cities,” Ventura Securities further added.