Pune-based diagnostics firm Krsnaa Diagnostics Ltd will utilise about ₹150 crore from the proceeds from its ₹1,213-crore initial public offering (IPO) to expand its presence in rural India, especially in north eastern States and south India, analysts said.
“Out of the fresh issue of ₹400 crore, about ₹150 crore would be deployed in capex in four or five PPP projects. The company will set up about 30 diagnostic centres mostly in rural areas,” said Parvati Rai, head of research, KRChoksey Group. She said the company has a differentiated business model as it works in the PPP format.
“This model is working well for them,” she said.
The company operates one of India’s largest tele-radiology reporting hubs in Pune that processes large volumes of X-rays, CT scans and MRI scans round the clock. This facility also allows it to serve patients in remote locations where diagnostic facilities are limited at affordable rates.
It has established 1,365 radiology diagnostics centres and 465 pathology diagnostic centres, including 425 collection centers in 14 states.
Analysts said since the government has given importance of private participation in the healthcare industry, the PPP models in diagnostic have gained traction over the past five years.
