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Krishna Diagnostics allocated Rs 351.45 crore from public offering proceeds as of June 2026
03-Aug-2026, 08:38
CARE Ratings Ltd.’s monitoring report, released recently, assesses the deployment of proceeds from a public offering by Krishna Diagnostics Pvt. Ltd. as of June 30, 2026. The report indicates Rs 351.45 crore was allocated for general corporate purposes, with Rs 20 crore and Rs 2.00 crore invested in KIMS Hospitals Bengaluru and Chalasani Hospitals, respectively, and Rs 22 crore used for salaries and consultant fees. A significant portion, Rs 413.51 crore, remains temporarily invested in liquid instruments like ICICI Prudential Money Market Fund and Kotak Mahindra Bank accounts. While the report suggests funds are being deployed in accordance with the placement document, which allows up to 25% for general corporate purposes, it notes that these funds have been commingled with regular business funds, potentially complicating tracking. The monitoring agency emphasizes it relied on information provided by Krishna Diagnostics and disclaims any legal liability.
CARE Ratings Ltd.’s monitoring report, released recently, assesses the deployment of proceeds from a public offering by Krishna Diagnostics Pvt. Ltd. as of June 30, 2026. The report indicates Rs 351.45 crore was allocated for general corporate purposes, with Rs 20 crore and Rs 2.00 crore invested in KIMS Hospitals Bengaluru and Chalasani Hospitals, respectively, and Rs 22 crore used for salaries and consultant fees. A significant portion, Rs 413.51 crore, remains temporarily invested in liquid instruments like ICICI Prudential Money Market Fund and Kotak Mahindra Bank accounts. While the report suggests funds are being deployed in accordance with the placement document, which allows up to 25% for general corporate purposes, it notes that these funds have been commingled with regular business funds, potentially complicating tracking. The monitoring agency emphasizes it relied on information provided by Krishna Diagnostics and disclaims any legal liability.