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The stock was listed at Rs 1008.9, a premium of 23.29% to the initial public offer (IPO) price. So far the stock hit a high of Rs 1,057.95 and low of 973. On the BSE, 2.04 lakh shares were traded on the counter so far.
The IPO of Krishna Institute of Medical Sciences opened for bidding on Wednesday, 16 June 2021, and closed on Friday, 18 June 2021. The price band for the IPO was set at Rs 815-825 per share.
The issue received bids for 5.56 crore shares as against 1.44 crore shares on offer, according to the stock exchange data. The issue was subscribed 3.86 times.
The qualified institutional buyers (QIBs) category was subscribed 5.26 times. The retail individual investors category was subscribed 2.90 times. The non-institutional investors category was subscribed 1.89 times.
The IPO comprised 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.
Ahead of the IPO, the company finalized allocation of 1,15,84,060 equity shares to anchor investors at Rs 825 per share aggregating to Rs 955.68 crore.
The company proposes to utilize the net proceeds of the fresh issue towards repayment/pre-payment, in full or part, of certain borrowings availed by the company and by subsidiaries viz KHKPL (KIMS Hospital Kurnool), SIMSPL (Saveera Institute of Medical Science) and KHEPL (KIMS Hospital Enterprises) amounting Rs 150 crore and balance towards general corporate purposes. Total borrowing as on 31 March 2020, was at Rs 220.164 crore.
Krishna Institute of Medical Sciences (KIMS) is one of the largest corporate healthcare groups in Andhra Pradesh (AP) and Telangana in terms of number of patients treated and treatments offered. It provides multi-disciplinary integrated healthcare services, with a focus on primary, secondary & tertiary care in tier 2-3 cities and primary, secondary, tertiary, and quaternary healthcare in tier 1 cities.
The company operates 9 multi-specialty hospitals under the KIMS Hospitals brand, with an aggregate bed capacity of 3,064, including over 2,500 operational beds as of March 31, 2021, which is 2.2 times more beds than the second largest provider in AP and Telangana. It offers 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 & childcare.
The company reported a consolidated net profit of Rs 201.22 crore and total income of Rs 1329.94 crore in the twelve months ended on 31 March 2021.
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