Kids Clinic India IPO: Kids Clinic India, which operates super-specialty mother and babycare chain Cloudnine, has applied for an IPO of Rs 1,200 crore.
IPO News: There is good news for IPO investors. The IPO of Kids Clinic India, which operates super-specialty mother and babycare chain Cloudnine, is on the way. Kids Clinic India has filed preliminary papers with market regulator SEBI to raise Rs 1,200 crore through IPO. According to the papers filed with SEBI, new shares worth Rs 300 crore will be issued through this issue.
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Kids Clinic India IPO Details
- Under the Rs 1200 crore IPO of Kids Clinic India, new shares worth Rs 300 crore will be issued.
- According to the Draft Red Herring Prospectus (DRHP), the existing shareholders through the issue will sell 1,32,93,514 equity shares through Offer for Sale (OFS). Under the OFS, Dr R Kishore Kumar, Scripps N Scrolls India Pvt Ltd, True North Fund LLP, Indium V (Mauritius) Holdings and Sequoia Capital Investments will sell the shares.
- Part of the issue is reserved for eligible employees.
- Rs 95 crore raised by issue of new shares will be used to pay off debt, Rs 117.90 crore to open seven new mother and baby centers at different locations over the next few years, buy 49 per cent stake in subsidiary Equity Labs for Rs 12.71 crore Will be done. Apart from this, the money raised will also be used for general corporate purposes.
- JM Financial, ICICI Securities and Axis Capital are the book running lead managers to the issue.
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Details about the company
- Cloudnine offers services ranging from fertility treatments to maternity, neonatology and paediatrics.
- The company’s network consists of 23 centers in six states and one union territory of the country.
- According to the data available till September 2021, it has a team of 1480 medical professionals including 196 junior doctors and 1284 nurses. Apart from this, according to medical records, it has more than 7.6 lakh customers. In FY 2021, it assisted 16801 deliveries and 5994 fertility services.
- Talking about the financials, in the first half of the current financial year, April-September 2021, the company’s revenue from operations increased by 42.80 percent year-on-year to Rs 371.65 crore. Due to higher delivery, the company’s operating revenue grew 7.42 per cent year-on-year to Rs 554.59 crore in FY21.
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