Why ULIP mis-selling has become rampant ?
Why is there so much mis-selling of ULIP? How to avoid this mis-selling? Who should take ULIP?
The initial public offer of Krsnaa Diagnostics was subscribed 5.35 times on the second day of subscription on Thursday. The Rs 1,213.33-crore IPO received bids for 3,80,33,730 shares against 71,12,099 shares on offer, as per data available with the NSE.
Category-wise, the qualified institutional buyers (QIBs) portion was subscribed 50%, non-institutional investors 4.71 times, and retail individual investors 21.74 times. Its offer was oversubscribed on the first day of subscription on Wednesday.
Krsnaa Diagnostics’ initial public offer comprises a fresh issue of up to Rs 400 crore and an offer for sale of up to 85,25,520 equity shares. The price range for the offer has been fixed at Rs 933-954 per share. The company has raised Rs 537 crore from anchor investors.
Proceeds from the fresh issue will be used for financing the cost of establishing diagnostics centers at Punjab, Karnataka, Himachal Pradesh, and Maharashtra; repayment of loans availed by the company, and general corporate purposes.