Krsnaa Diagnostics IPO Subscription Day-2

Krsnaa Diagnostics IPO Subscription Day-2
IPO
05/08/2021

The Rs.1,213.33 crore IPO of Krsnaa Diagnostics, consisting of Rs.400 crore fresh issue and Rs.813.33 crore OFS, had been fully subscribed on Day-1 itself. As per the combined bid details put out by the BSE, Krsnaa Diagnostics IPO was subscribed 5.42X overall at the end of Day-2 of the issue, with bulk of the demand coming from retail segment.

As of close of 05 August, out of the 71.12 lakh shares on offer in the IPO, Krsnaa Diagnostics saw applications for 380.34 lakh shares. This implies an overall subscription of 5.42X. The granular break-up of subscriptions were tilted heavily in favour of retail investors.

 

Krsnaa Diagnostics IPO Subscription Status

Category

Subscription Status
Qualified Institutional (QIB) 0.50 Times
Non-Institutional (NII) 4.76 Times
Retail Individual 22.09 Times
Employee 0.52 Times
Total 5.42  Times

 

QIB Portion

The QIB portion remained tepid at the end of Day-2. 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 0.50X (getting applications for 18.82 lakh shares against the net quota of 37.53 lakh shares), at the end of the Day-2. Normally bulk of the QIB applications come in on the last day.

HNI Portion

The HNI portion saw good subscription at 4.76X (getting applications for 88.33 lakh shares against the quota of 18.76 lakh shares). This number could see a sharp increase once the funded and corporate applications come in on the last day.

Retail Individuals

The retail portion is already subscribed 22.09 times at the end of Day-2, showing strong retail appetite. Among retail investors; out of the 12.51 lakh shares on offer, valid bids were received for 271.98 lakh shares, of which bids for 219.85 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.

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