16 Aug , 2021 By : Kanchan Joshi
Krsnaa Diagnostics shares are going to list at Indian bourses today. According to stock market experts, the public issue may list up to Rs1150 to Rs1200 — delivering up to near 25 per cent listing gain to its successful bidders. They said that the diagnostics company will have a reasonable listing as market mood is looking positive. In fact, grey market is also expecting reasonable listing gain for the public issue as Krsnaa Diagnostics IPO GMP today is Rs248, means grey market is also expecting listing of Krsnaa Diagnostics IPO at around Rs1200 — around 25 per cent higher from its issue price of Rs933 to Rs954.
Speaking on the expected listing gain from Krsnaa Diagnostics IPO; Abhay Doshi, Founder at UnlistedArena.com said, "With four IPOs to debut together on D-Street, Expecting Krsnaa-Diagnostics to list in range of Rs1150 to Rs1200 as sentiments have changed a bit. However, it should still emanate over 20-25 per cent listing gains."
What grey market signaling?
As per the grey market, Krsnaa Diagnostics IPO grey market premium today is Rs248 that means the market is expecting the public issue too list at around Rs1200 ( Rs954 Rs248 = Rs1202). So, even, grey market is expecting up to 25 per cent listing gain from the public issue.
As per the market observers, initially shares of Krsnaa Diagnostics were available at the premium of Rs455 but it came down towards Rs425 at the time of subscription opening. However, after closure of the bidding, Krsnaa Diagnostics share were trading at premium of Rs300 to Rs350. But, it kept on going down as its listing date started fast approaching.
Market observers said that listing premium to such extent in the grey market premium is an indication that grey market is expecting moderate to reasonable listing gain from the public issue.
Highlighting the fundamentals that may support listing of Krsnaa Diagnostics shares; Astha Jain, Research Analyst at Hem Securities said, "Company is bringing the issue at price band of Rs933 to Rs954 per share at EV/EBIDTA multiple of 34. We like Unique and scaled business model of the company. Krsnaa Diagnostics with its strong brand equity has extensive footprint across India with robust infrastructure. With robust revenue visibility, company is well positioned to capitalize on healthcare spending across public and private sectors."
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