KIMS Fixes Price Band For IPO Rs. 2144 Crore
- ByStartupStory | June 11, 2021
Krishna Institute of Medical Science (KIMS) will open its subscription for Rs. 2,144 crores initial public offering (IPO) next week on June 16, 2021, at the price band of Rs. 815-825 per share. According to the Company, KIMS fixes the price band at Rs. 815-820 for IPO three day offering will close on June 18. The IPO consists of a fresh issue of shares totalling up to Rs 200 crore and an offer for sale of up to 2,35,60,538 equity shares from existing shareholders and promoters.
Under the offer for a sale total of 1,60,03,615 shares would be offered by General Atlantic Singapore KH Pte Ltd up to 3,87,966 equity shares by Bollineni Ramanaiah Memorial Hospitals, up to 3,87,966 equity shares by Dr. Bhaskara Rao Bollineni, and 60,05,058 shares by other existing selling shareholders.
Investors can bid for a minimum lot of 18 shares and in multiples thereof. Up to 75 percent (Rs1,592.81 crore) portion of the net offer has been reserved for Qualified Institutional Buyers (QIBs), 10 percent (Rs 212.37 crore) for retail investors, and 15 percent (Rs 318.56 crore) for non-institutional buyers (NIBs). However, equity shares worth Rs 20 crore are reserved for employees. In the employee reservation portion, a discount of Rs. 40 per share will be given to the eligible employees who are bidding.
Krishna Institute of Medical Science (KIMS) is known as one of the largest corporate medical health groups in Telangana and Andhra Pradesh in terms of the number of patients treated and treatments offered. Under the ‘KIMS Hospital”, nine multi-specialty hospitals function with around 3,064-bed capacity, including 2,500 as operational beds as per the data of December 31, 2020.
KIMS Hospitals offer a massive range of healthcare services across over 25 specialties and super specialties, including cardiac sciences, gastric sciences, organ transplantation oncology, neurosciences, orthopedics, renal sciences, and mother and child care. Axis Capital, Kotak Mahindra Capital Company, Credit Suisse Securities (India) Pvt Ltd, and IIFL Securities have been appointed as book-running lead managers to the issue. The equity shares are to be listed on NSE and BSE.
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