KIMS fixes price band at Rs 815-825 for Rs 2144 crore IPO

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

The IPO comprises fresh issue of shares aggregating up to Rs 200 crore and an offer for sale of up to 2,35,60,538 equity shares from promoters and existing shareholders.

Total 1,60,03,615 shares would be offered by General Atlantic Singapore KH Pte Ltd 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.

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.

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