Krsnaa Diagnostics Ltd

Krsnaa Diagnostics Ltd

Krsnaa Diagnostics Limited was originally incorporated as `Krsna Diagnostics Private Limited' at Pune Maharashtra as a private limited company under the Companies Act 1956 pursuant to a certificate of incorporation dated 22 December 2010. The name of the Company was subsequently changed to `Krsnaa Diagnostics Private Limited' pursuant to a fresh certificate of incorporation issued by the RoC on 29 January 2015. Thereafter the Company was converted into a public limited company pursuant to a special resolution passed in the extraordinary general meeting of the Shareholders of our Company held on 25 April 2021 and consequently the name of the Company was changed to its present name pursuant to a fresh certificate of incorporation issued by the RoC on 06 May 2021. The company is primarily engaged in providing diagnostic services centres all over India.The company is providing Radiology and Pathology services for X-rayCT scanMRIMammographyTele-Reporting servicesall type of blood and urine investigation and other related diagnostic services. The company owns an extensive network of integrated diagnostics centres across India primarily in non-metro and lower-tier cities and townswith operating 1823 diagnostics centres offering radiology and pathology services in 13 states across the country.The company focuses on the public-private partnership(PPP) diagnostics segment and has the largest presence in the diagnostic PPP segment.During the FY2019 the Company has issued 1000 equity shares of face value of Rs. 10/- each at an offer price of Rs. 328.9597 (including Security Premium of Rs. 318.9597/-). The company also issued 3038886 Compulsory Convertible Participating Preference Shares [CCPS] of face value of Rs. 250 each at an offer price of Rs. 328.9597 (including Security Premium of Rs. 78.9597). During the FY2021the company has allotted 730904 equity shares of Rs 10 each through rights issue. Also the company undertook the conversion of 600960 CCPS -Series B into equity shares in the ratio of 1:1 at a price of Rs 250 per share(including the premium of Rs 240 per share). The companypursuant to a shareholders' resolution dated 25 April 2021sub-divided the face value of equity shares from Rs 10 to Rs 5 per share.During the month of August 2021the company came out with Rs 1213.33 crore IPO which comprised a fresh issue of Rs 400 crore and an offer for sale of Rs 813.33 crore by selling shareholdersincluding PHI Capital TrustKitara and Somerset Indus Healthcare Fund.The company will utilise the fresh issue proceeds for establishing diagnostics centres in PunjabKarnatakaHimachal Pradesh and Maharashtra and also repaying of debts.The allotted shares were listed on the BSE Ltd and National Stock Exchange of India(NSE) on 16 August 2021.