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KIMS Hospitals raises ₹955 cr from 43 anchor investors

Our Bureau Hyderabad | Updated on June 15, 2021

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IPO opens for subscription on June 16 in the price band of ₹815-825 per share

Krishna Institute of Medical Sciences (KIMS) Hospitals has raised ₹955 crore from 43 anchor investors ahead of the opening of its maiden Initial Public Offer (IPO).

“The IPO committee of the Company in their meeting held on June 15,2021, in consultation with Kotak Mahindra Capital Company Limited, Axis Capital Limited, Credit Suisse Securities (india) Private Limited and IIFL Securities Limited (Book Running Lead Managers), has finalised allocation of I 1,584,060 Equity Shares to Anchor investors at Anchor investor Allocation Price of ₹825 per Equity Share (including share premium of ₹815 per Equity Share),'' Hyderabad-based KIMS informed bourses on Tuesday.

KIMS Hospital’s ₹2,144-crore IPO opens for subscription on June 16 in the price band of ₹815-825 per share and closes on June 18.

 

The public issue comprises a fresh issue of equity shares worth up to ₹200 crore and offer-for-sale (OFS) of 2.35 crore shares by its existing promoters and shareholders.

The OFS comprises sale of up to 1.60 crore shares by General Atlantic Singapore KH Pte Ltd, up to 3.87 lakh shares by Dr, Bhaskara Rao Bollineni, up to 7.75 lakh shares by Rajyasri Bollineni, up to 3.87 lakh shares by Bollineni Ramanaiah Memorial Hospitals Private Ltd.

KIMS intends to use the proceeds to repay certain borrowings of ₹150 crore, and for general corporate purposes. In addition, it is also looking at inorganic expansion.

As of March 31, 2021, the company and its subsidiaries had total borrowings amounting to ₹270.46 crore and non-fund based borrowings of ₹2.17 crore.

KIMS operates nine multi-specialty with a total bed capacity of 3,064, including over 2,500 operational beds as of March 31, 2021, which is 2.2 times more beds than the second-largest provider in AP and Telangana.

Published on June 15, 2021

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