New IPO: Krishna Institute of Medical Science is also in the race to launch IPO, learn all the details related to IPO

The Krishna Institute of Medical Sciences- KIMS, the largest corporate healthcare group in Andhra Pradesh and Telangana, is also set to get an IPO to raise funds. KIMS has submitted an application with the market regulator SEBI to launch the IPO. In its draft Red Herring Prospectus (DRHP), KIMS has stated that it will issue fresh shares of Rs 200 crore for this IPO and 2,13,40,000 equity shares will be issued through promoters of the company and the existing Investor Offer for Sale (OFS). do.

For this IPO, General Atlantic Singapore KH PTE Ltd, the company investing in KIMS, will issue 1,38,80,000 shares. At the same time, the promoter of the company Bhaskara Rao Bollineni will sell 7.7 lakh shares. Apart from this, Rajyasri Bollineni, the second promoter of the company, will issue 11.6 lakh shares.

Funds will be used here

The funds raised through this IPO will be used to pay off its debt and meet normal corporate expenses. KIMS will repay the loan of itself and its associate companies KHKPL, SIMSPL, KHEPL for Rs 150 crore. For this IPO, KIMS has appointed Kotak Investment Banking, Axis Capital, Credit Suisse and IIFL Securities as its lead managers.

Company highlights

KIMS is the largest corporate healthcare group in Andhra Pradesh and Telangana in terms of patient treatment. There are 9 multispecialty hospitals under the banner of the KIMS Hositals brand, with a total bed capacity of 3,064 with 2500 beds operational. The company’s revenue in the December quarter of FY 2020-21 was Rs 71.40 crore, compared to Rs 856.38 crore in the same period a year ago. The company’s net profit for the December quarter stood at Rs 145 crore, compared to only Rs 86.38 crore a year ago.

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