KIMS IPO: General Atlantic-Backed Krishna Institute Sets Price Band At Rs 815-825
General Atlantic-backed hospital chain Krishna Institute of Medical Science Ltd. will sell shares at Rs 815-825 apiece to raise up to Rs 2,144 crore in its initial public offer next week.
The southern healthcare company’s three-day IPO—which opens on June 16— comprises Rs 200 crore of fresh issue and offer for sale by General Atlantic entity, General Atlantic Singapore KH Pte Ltd. to divest 2.35 crore shares, according to its filings. The institute will use Rs 150 crore from the new stock issue to pare debt.
General Atlantic will sell 50% of its stake and retain 20% of the post-issue equity. The promoters, also selling shares, will own 38.84% after the officer, while 61.16% will be with public shareholders.
The IPO accounts for 32.5% of the post-issue equity capital.
KIMS among the largest healthcare groups in Andhra Pradesh and Telangana by number of patients treated, operates nine multi-specialty hospitals with an aggregate bed capacity of 3,064, including more than 2,500 operational as of March 31, 2021.
The hospital chain offers healthcare services in more than 25 specialties and super specialties, including cardiac sciences, oncology, neurosciences, gastric sciences, orthopedics', organ transplantation, renal sciences, and mother and childcare.
KIMS has seen an occupancy rate at 78.60% in financial year 2020-21, according to its filings. Revenue from its top two hospitals in Secunderabad and Kondapur accounts for 64.09% of the total business in fiscal 2021.
The company reported consolidated income of Rs 1,330 crore and a net profit of Rs 205 crore in FY21.
Watch the full interview with KIMS' Managing Director Bhaskar Rao here: