Krsnaa Diagnostics Board approves INR 430 crore NCD issue

Fund Raising View source PDF Explain this filing

KRSNAA · price

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prior close

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Nifty Microcap 250market · in no size index; the smallest one is used+0.3%-0.1% vs market

Healthcare Service Provider peers, median of 22sector+0.2%-0.1% vs sector

On the reaction day the stock moved 0.1 pts less than Nifty Microcap 250 and 0.1 pts less than its Healthcare Service Provider peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Board approved issuance of 43,000 unlisted secured NCDs of face value INR 1 lakh each, totalling up to INR 430 crore, via private placement. Tenure is 7 years with a fixed rate coupon (rate not disclosed). The NCDs will be redeemed in 13 equal half-yearly instalments starting 6 months after allotment, and are secured by a charge over company assets. The NCDs are unrated and will not be listed.

Likely market impact

Company raising INR 430 crore via secured debt; no equity dilution but will increase interest costs. Funds likely support business expansion.