KIMS Hospitals Shares End Over 20% Higher On Stock Market Debut

A medical worker takes an x-ray of a Covid-19 patient. (Photographer: Nathan Laine/Bloomberg)

KIMS Hospitals Shares End Over 20% Higher On Stock Market Debut

Shares of Krishna Institute of Medical Sciences Ltd. gained on market debut after a lukewarm response to its initial public offering.

The General Atlantic-backed hospital chain listed at Rs 1,008.90 apiece, a 22.3% premium to its issue price of Rs 825, according to exchange data. The stock saw an intraday high of Rs 1,059 and a low of Rs 990 thereafter.

KIMS’ three-day Rs 2,144-crore maiden offer, which concluded on June 18, was subscribed 3.86 times. The portion reserved for qualified institutional buyers saw 5.26 times more bid than the shares offered. While retail individual investors’ category was subscribed 2.90 times, that of non-institutional counterparts subscribed 1.89 times.

KIMS is among the largest healthcare groups in Andhra Pradesh and Telangana by number of patients treated. The chain operates nine multi-specialty hospitals with an aggregate bed capacity of 3,064, including more than 2,500 operational as of March 31.

The hospital chain offers healthcare services in more than 25 specialties and super specialties, including cardiac sciences, oncology, neurosciences, gastric sciences, orthopaedics, organ transplantation, renal sciences, and mother and childcare.

The stock ended the day 20.84% higher at Rs 996.95 apiece. That compares with the 0.29% fall on the Nifty 50 index and Sensex’s 0.36% decline.

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