KIMS to tap capital markets with Rs 2,144-crore IPO

Hyderabad: City-based Krishna Institute of Medical Sciences Ltd (KIMS)which operates healthcare facilities in Telangana and Andhra Pradesh under KIMS Hospitals brand, is tapping the capital markets next week with a Rs 2,144-crore initial public offer (IPO).

On Friday, the healthcare firm announced a price band of Rs 815-825 a share for its IPO, which will open for public subscription on June 16 and closes three days later on June 18

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 RajyasriBollineni, up to 3,87,966 equity shares by BollineniRamanaiah 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.