Shares of Krsnaa Diagnostics opened at Rs 1,025 on BSE and Rs 1,005.55 on NSE, up 7 per cent from the issue price of Rs 954 per share. Price band of the IPO was fixed at Rs 933 to Rs 954 per equity share.
As per the company, the proceeds from the issue will be used for setting up diagnostics centres in Punjab, Karnataka, Himachal Pradesh and Maharashtra, and to retire debts and other corporate purposes.
The IPO had a fresh issue aggregating up to Rs 400 crore worth of shares, with an offer for sale of up to 8,525,520 equity shares.
Krsnaa Diagnostics operates diagnostic centres in a public-partnership model (PPP) agreements with public health agencies. It provides diagnostic services such as imaging (including radiology), pathology, and tele-radiology services to public and private hospitals.
After starting with just two radiology centres, it now has 1,000 plus radiology centres and 500 plus pathology centres in its network and handles more than 70,000 CT/MRI and 5 lakh X-rays per month, while employing around 1,000 employees in the centres.
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