KIMS IPO SUBSCRIPTION: The IPO of Krishna Institute of Medical Sciences (KIMS) is opening for subscription on 16 June. The price band of this IPO of Rs 2144 crore has been kept at Rs 815-825. The anchor investors of the IPO will bid for it on June 15, 2021. The subscription to the issue will close on June 18. In this IPO, new equity shares of Rs 200 crore will be issued while 2.35 crore shares will be issued under the offer for sale by its existing promoters and shareholders.
10% shares reserved for retail investors
Under the offer for sale, General Atlantic Singapore KH Pty Ltd will issue 1.60 crore shares. Dr. Bhaskar Rao Bolineni will sell 3.87 lakh shares and Rajyashree Bolineni will sell 7.75 lakh shares. Bolinani Ramanaiah Memorial Hospital Pvt Ltd will sell 3.87 crore shares. Investment can apply for shares in 18 shares and multiple lots thereof. 75% of the shares (1,592.81 crore shares) of the IPO are reserved for Qualified Institution Buyers (QIBs). 15% is reserved for non-institutional buyers. Equity shares of Rs 20 crore have been kept reserved for employees. They will be given a discount of Rs 40 per share.
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Many merchant bankers including Axis Capital appointed
Axis Capital, Kotak Mahindra Capital, Credit Suisse Securities IIFL Securities have been appointed as its merchant bankers. Lin Intime India Private Limited is the registrar of the IPO. Some hospital chains like Apoli Hospital Enterprise, Fortis Healthcare, Narayana Hrudayalaya and Max Healthcare Institute are already listed in the market. With the funds that will come from the IPO, it will repay or pre-pay the loan of Rs 150 crore. Krishna Institute of Medical Sciences Kurnool Private Limited (KHPL) runs a multi-specialty hospital in Kurnool (Andhra Pradesh). This hospital is of 200 beds. All its beds were operational till 31 March 2021.
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