Krishna Institute of Medical Sciences Ltd (KIMS) opens for subscription from June 16-18 to raise ₹700 crore through an initial share-sale.
KIMS received the green signal from capital market regulator Securities and Exchange Board of India’s (SEBI) for their public issues in April, after having filed their draft papers in February.
A total of 1,39,77,991 equity shares would be offered by General Atlantic Singapore KH Pte Ltd under the offer for sale, up to 7,75,933 equity shares by Bhaskara Rao Bollineni, up to 11,63,899 equity shares by Rajyasri Bollineni, up to 3,87,966 equity shares by Bollineni Ramanaiah Memorial Hospitals Pvt Ltd.
The 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 the 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.
Kotak Mahindra Capital Co Ltd, Axis Capital Ltd, Credit Suisse Securities (India) Pvt Ltd and IIFL Securities Ltd have been appointed as book running lead managers to the issue.
This article was first published on livemint.com.