Hyderabad: Krishna Institute of Medical Sciences (KIMS) fixed a price band of Rs 815-825 a share for its Rs 2,144-crore initial public offer (IPO), which will open for public subscription on June 16. The three-day IPO will close on June 18. The equity shares are proposed to be listed on BSE and NSE.
The company said its IPO will comprise fresh issue of shares aggregating up to Rs 200 crore and an offer for sale of up to 2,35,60,538 equity shares (Rs 1,944 crore at the upper price band) from promoters and existing shareholders. Proceeds from the fresh issue will be used to repay debt of the company and its subsidiaries.
Total 1,60,03,615 shares would be offered by General Atlantic Singapore KH under the offer-for-sale, up to 3,87,966 equity shares by Dr Bhaskara Rao Bollineni, up to 7,75,933 shares by Rajyasri Bollineni, up to 3,87,966 equity shares by Bollineni Ramanaiah Memorial Hospitals and 60,05,058 shares by other existing selling shareholders.
About 75 per cent of the issue has been reserved for qualified institutional buyers, 15 per cent for non-institutional bidders and 10 per cent for retail investors.
KIMS operates nine multi-specialty hospitals under the ‘KIMS Hospitals’ brand, with an aggregate bed capacity of 3,064, including over 2,500 operational beds as of December 31, 2020. The company offers a comprehensive range of healthcare services across over 25 specialties and super specialties.
Kotak Mahindra Capital Company, Axis Capital, Credit Suisse Securities (India) and IIFL Securities have been appointed as book running lead managers to the issue.
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