KIMS Hospitals IPO opens for subscription tomorrow: Check all details here



New Delhi (Anish Yande): Krishna Institute of Medical Sciences would be launching its initial public offering tomorrow. The hospital operator would be aiming to raise up to Rs 2,144 crore through the launch of the IPO. Check all details of the upcoming Krishna Institute of Medical Sciences IPO here.

Krishna Institute of Medical Sciences IPO details:

Krishna Institute of Medical Sciences’ initial public offer would amount to Rs 2,144 crore. The price band for the KIMS issue is fixed at Rs 815 to 825 per share. The company’s IPO will open on 16 June and close on June 18. KIMS’ initial public offer would consist of a fresh issue of up to Rs 200 crore. The offer for sale would amount up to 2,35,60,538 equity shares by promoters and investors. 

Offer for sale of KIMS Hospitals would consist of up to 3,87,966 equity shares by Dr Bhaskara Rao Bollineni. The offer for sale would also consist of 3,87,966 shares by Bollineni Ramanaiah Memorial Hospitals and 7,75,933 equity shares by Rajyasri Bollineni. 

General Atlantic Singapore KH would be offloading its 1,60,03,615 equity shares through the offer for sale. Shares amounting to Rs 20 crore would be reserved for employees. These employees would get shares at a discount of up to Rs 40 on the final offer price.

KIMS to use funds for repaying debt:

Investors can bid for a minimum of 18 equity shares and in multiples of 18 equity shares. The reserved portion for qualified institutional buyers is fixed at 75 per cent. Non-institutional investors can bid from a reserved 15 per cent stake.

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Krishna Institute of Medical Sciences looks to utilise the proceeds from the issue for repaying borrowings amounting to Rs 150 crore and general corporate purposes.

The book running lead managers to the KIMS issue are Credit Suisse Securities, Axis Capital, Kotak Mahindra Capital Company, and IIFL Securities

KIMS is a leading hospital chain operator based in Hyderabad. The company’s hospital at Secunderabad is one of the largest private hospitals in India with a capacity of 1,000 beds. 

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