Krishna Institute of Medical Sciences’ Rs 2,144-cr IPO opens June 16; price band fixed at Rs 815-825 apiece

Krishna Institute of Medical Sciences IPO includes recent difficulty of fairness shares value as much as Rs 200 crore and offer-for-sale (OFS) of two.35 crore shares

Krishna Institute of Medical Sciences’ Rs 2,143.74-crore preliminary public providing (IPO) will open for subscription subsequent week on June 16, 2021 within the worth band of Rs 815-825 per share. The anchor investor bidding will happen on June 15, 2021. The difficulty will shut for subscription on June 18. The general public difficulty includes recent difficulty of fairness shares value as much as Rs 200 crore and offer-for-sale (OFS) of two.35 crore shares by its present promoters and shareholders. The OFS includes sale of as much as 1.60 crore shares by Basic Atlantic Singapore KH Pte Ltd, as much as 3.87 lakh shares by Dr, Bhaskara Rao Bollineni, as much as 7.75 lakh shares by Rajyasri Bollineni, as much as 3.87 lakh shares by Bollineni Ramanaiah Memorial Hospitals Non-public Ltd.

Traders can bid for a minimal lot of 18 shares and in multiples thereof. As much as 75 per cent (Rs1,592.81 crore) portion of the online supply has been reserved for Certified Institutional Patrons (QIBs), 15 per cent (Rs 318.56 crore) for non-institutional consumers (NIBs) and 10 per cent (Rs 212.37 crore) for retail traders. Whereas fairness shares value Rs 20 crore have been stored reserved for workers. A reduction of Rs 40 per share can be given to the eligible workers bidding within the worker reservation portion.

Axis Capital, Kotak Mahindra Capital, Credit score Suisse Securities and IIFL Securities have been appointed as service provider bankers to advise the corporate on the IPO. Lin Intime India Non-public Ltd would be the registrar to Krishna Institute of Medical Sciences difficulty. The peer group firms listed in India are Apollo Hospitals Enterprise, Fortis Healthcare, Narayana Hrudayalaya, and Max Healthcare Institute. The weighted common return on web value for fiscals 2019, 2020 and 2021 is 16.82 per cent.

The corporate has deliberate to utilise the online proceeds in the direction of funding the reimbursement/prepayment of sure borrowings value Rs 150 crore and for basic company functions. KIMS Hospital Kurnool Non-public Restricted (KHKPL) runs a multi-specialty hospital at Kurnool in Andhra Pradesh with a complete of 200 beds, all of which have been operational beds as on March 31, 2021.