Krsnaa Diagnostics IPO Subscription Day-1

13th December 2022 - 12:05 pm

The Rs.1,213.33 crore IPO of Krsnaa Diagnostics, consisting of Rs.400 crore fresh issue and Rs.813.33 crore OFS, has gradually built response on Day-1 of the IPO. As per the combined bid details put out by the BSE, Krsnaa Diagnostics IPO was subscribed 1.98X overall, with bulk of the demand coming from the retail segment. The issue has 2 more days to go.

As of the close of 04 August, out of the 71.12 lakh shares on offer in the IPO, Krsnaa Diagnostics saw applications for 140.64 lakh shares. This implies an overall subscription of 1.98X. The granular break-up of subscriptions were tilted substantially in favour of retail investors but HNI and QIB bids would typically come in on the last day.

Krsnaa Diagnostics IPO Subscription Day 1

Category	Subscription Status
Qualified Institutional (QIB)	0.48 Times
Non-Institutional (NII)	0.15 Times
Retail Individual	9.59 Times
Employee	0.12 Times
Total	1.98 Times

QIB Portion

The QIB portion remained tepid at the end of Day-1. On 03 Aug, Krsnaa Diagnostics did an anchor placement of Rs.537 crore to QIB investors like Kuber, Volrado, HSBC, SocGen, Elara, Nomura etc. QIB portion is just subscribed 0.48X, at the end of the first day of bidding.

HNI Portion

The HNI portion got subscribed 0.15X (getting applications for 2.81 lakh shares against the quota of 18.76 lakh shares). Of course, funded applications and corporate applications will come in on the last day. The real big story was the retail portion, which is already subscribed 9.55 times at the end of Day-1, showing strong retail appetite.

Retail Portion

Among retail investors; out of the 12.51 lakh shares on offer, valid bids were received for 119.50 lakh shares, of which bids for 97.11 lakh shares were at the cut-off price. The IPO is priced in the band of (Rs.933-Rs.954) and will close for subscription on Friday, 06 August. Krsnaa has limited retail quota to 10% while institutions have 75% allocation.