India: Krishna Institute of Medical Sciences IPO opens for subscription next week

IPO

Krishna Institute of Medical Sciences Ltd (KIMS) opens for subscription from June 16-18 to raise 700 crore through an initial share-sale.

KIMS received the green signal from capital market regulator Securities and Exchange Board of India’s (SEBI) for their public issues in April, after having filed their draft papers in February.

The initial public offering (IPO) comprises a fresh issue of shares aggregating up to 200 crore and an offer for sale of up to 21,340,931 equity shares from promoters and existing shareholders, according to draft red herring prospectus filed with Sebi.

A total of 1,39,77,991 equity shares would be offered by General Atlantic Singapore KH Pte Ltd under the offer for sale, up to 7,75,933 equity shares by Bhaskara Rao Bollineni, up to 11,63,899 equity shares by Rajyasri Bollineni, up to 3,87,966 equity shares by Bollineni Ramanaiah Memorial Hospitals Pvt Ltd.

The proceeds from the fresh issue will be used to repay debt of the company and its subsidiaries.

Krishna Institute of Medical Sciences (KIMS) is one of the largest corporate healthcare groups in Andhra Pradesh and Telangana in terms of the number of patients treated and treatments offered.

It operates nine multi-specialty hospitals under the ‘KIMS Hospitals’ brand, with an aggregate bed capacity of 3,064, including over 2,500 operational beds as of December 31, 2020.

Kotak Mahindra Capital Co Ltd, Axis Capital Ltd, Credit Suisse Securities (India) Pvt Ltd and IIFL Securities Ltd have been appointed as book running lead managers to the issue.

This article was first published on livemint.com.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

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  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.