KIMS sets price band at Rs 815-825/share for Rs 2,144-crore IPO

KIMS sets price band at Rs 815-825/share for Rs 2,144-crore IPO

Krishna Institute of Medical Sciences Ltd on Friday fixed a price band of Rs 815-825 a share for its Rs 2,144-crore IPO, which will open for public subscription on June 16.

The three-day initial public offer (IPO) will close on June 18, according to the company.

The offer includes a reservation of shares to the tune of Rs 20 crore for employees.

At the upper end of the price band, the IPO is expected to fetch Rs 2,144 crore.

Total 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.

Proceeds from the fresh issue will be used to repay debt of the company and its subsidiaries.

Krishna Institute of Medical Sciences (KIMS) is one of the largest corporate healthcare groups in Andhra Pradesh and Telangana in terms of number of patients treated and treatments offered.

It 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.

KIMS Hospitals offer a comprehensive range of healthcare services across over 25 specialties and super specialties, including cardiac sciences, oncology, neurosciences, gastric sciences, orthopaedics, organ transplantation, renal sciences and mother and child care.

Kotak Mahindra Capital Company, Axis Capital, Credit Suisse Securities (India) Pvt Ltd and IIFL Securities have been appointed as book running lead managers to the issue.Pune News

The equity shares are proposed to be listed on BSE and NSE.

News Source: INDIAN EXPRESS

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