Hyderabad

KIMS IPO opens on June 16

Healthcare service provider Krishna Institute of Medical Sciences (KIMS), that now has nine multi-speciality hospitals in Andhra Pradesh and Telangana with around 3,000 beds, plans to expand to markets adjacent to its existing core markets, including Chennai and Bengaluru.

Besides Tamil Nadu and Karnataka, it is exploring prospects of foraying into some parts of central India as well as Bhubaneswar in Odisha. This is part of a growth strategy KIMS Hospitals, as it is better known, has drawn up, one in which emphasis will also be on consolidating in existing markets, by way of expanding clinical capabilities in existing hospitals, add more bed capacity to meet growing demand as well as explore untapped geographies in the Telugu States.

The senior management spoke on the plans during a media briefing on the ₹2,144 crore IPO (initial public offering) of KIMS that opens on June 16. The price band of the IPO is ₹815- ₹ 825 per equity share of face value of ₹10 each. Minimum bid lot is 18 equity shares and in multiples of 18 equity shares thereafter in the IPO, which will close on June 18.

According to the company, the IPO comprises a fresh issue of shares aggregating upto ₹200 crore and an offer for sale (OFS) of over 2.35 crore equity shares from the promoters and existing shareholders. Proceeds from the IPO will be used to repay debts, in full or part, of around ₹150 crore of the company and its subsidiaries, besides being utilised for general corporate purposes.

The OFS consists of sale of more than 1.6 crore shares by General Atlantic Singapore KH Pte, which is an investor in the company, and promoters, including up to 3,87,966 shares by Dr Bhaskara Rao Bollineni, up to 775,933 shares by Rajyasri Bollineni, up to 387,966 shares by Bollineni Ramanaiah Memorial Hospital Private Limited and up to 6,005,058 shares by other existing, selling shareholders.


Our code of editorial values

This article is closed for comments.
Please Email the Editor

Printable version | Jul 28, 2021 5:29:48 AM | https://www.thehindu.com/news/cities/Hyderabad/kims-ipo-opens-on-june-16/article34799347.ece

Next Story