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Home >Markets >Ipo >Krishna Institute of Medical Sciences' IPO price band fixed at 815-825 apiece

MUMBAI: Krishna Institute of Medical Sciences Ltd has fixed a price band for its initial public offering (IPO) at 815-825 per share.

The firm’s IPO will open on 16 June and close on 18 June.

Its IPO consists a fresh issue of 200 crore and an offer for sale (OFS) of upto 23.56 million shares by its existing promoters and shareholders. On the upper band price, the OFS will be amounted to 1,943. 70 crore.

The OFS comprises sale of upto 16 million shares by General Atlantic Singapore KH PTE, upto 3.88 lakh shares each by Dr Bhaskara Rao Bollineni and Bollineni Ramanaiah Memorial Hospital and upto 7.75 lakh shares by Rajyasri Bollineni.

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.

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