Krishna Institute of Medical Sciences’ Rs 2,143.74-crore initial public providing (IPO) will open for subscription next week on June 16, 2021 in the price tag band of Rs 815-825 per share. The anchor investor bidding will take location on June 15, 2021. The situation will close for subscription on June 18. The public situation comprises fresh situation of equity shares worth up to Rs 200 crore and supply-for-sale (OFS) of 2.35 crore shares by its current 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.
Investors can bid for a minimum lot of 18 shares and in multiples thereof. Up to 75 per cent (Rs1,592.81 crore) portion of the net supply has been reserved for Qualified Institutional Buyers (QIBs), 15 per cent (Rs 318.56 crore) for non-institutional purchasers (NIBs) and 10 per cent (Rs 212.37 crore) for retail investors. While equity shares worth Rs 20 crore have been kept reserved for staff. A discount of Rs 40 per share will be provided to the eligible staff bidding in the employee reservation portion.
Axis Capital, Kotak Mahindra Capital, Credit Suisse Securities and IIFL Securities have been appointed as merchant bankers to advise the corporation on the IPO. Lin Intime India Private Ltd will be the registrar to Krishna Institute of Medical Sciences situation. The peer group providers listed in India are Apollo Hospitals Enterprise, Fortis Healthcare, Narayana Hrudayalaya, and Max Healthcare Institute. The weighted typical return on net worth for fiscals 2019, 2020 and 2021 is 16.82 per cent.
The corporation has planned to utilise the net proceeds towards funding the repayment/prepayment of specific borrowings worth Rs 150 crore and for basic corporate purposes. KIMS Hospital Kurnool Private Limited (KHKPL) runs a multi-specialty hospital at Kurnool in Andhra Pradesh with a total of 200 beds, all of which have been operational beds as on March 31, 2021.