According to PTI, the Hyderabad-based Institute of Medical Science (KIMS) fixed a price range of 815-825 rupees per share for an IPO of 2,144 rupees on Friday, June 11. KIMS will start a general subscription on June 16th.
According to the company, the three-day initial public offering (IPO) will end on June 18.
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The company filed a Draft Red Herring Prospectus (DRHP) in April of this year to raise Rs 20 billion from an IPO through a new share issue.
KIMS is one of the largest corporate healthcare groups in Andhra Pradesh and Telangana.
KIMS provides interdisciplinary medical services with a focus on primary, secondary and tertiary care in Tier 2-3 cities. The company offers a wide range of healthcare services including oncology, cardiac science, neuroscience, gastric science, orthopedics, kidney science, organ transplantation and maternal and child care.
As of March 31, 2021, the KIMS Hospitals brand operates through nine specialized hospitals under the KIMS Hospitals brand name, which includes a total of 3,064 beds, a total of 3,064 beds, and more than 2,500 surgical beds.
The IPO consists of offers from promoters and existing shareholders to sell up to 2,35,60,538 shares.
A total of 1,60,03,615 shares are on sale by US equity giant General Atlantic Singapore, up to 3,87,966 shares, Dr Bhaskara Rao Bollineni up to 7,75,933 shares, and Rajyasri Bollineni up to 7,75,933 shares. 3,87,966 shares by Borineni Ramanaia Memorial Hospital and 60,05,058 shares by other existing shareholders for sale.
This offer includes a stock reservation of Rs 20 for employees.
At the upper price range, the IPO is expected to get Rs 2,144.
A total of 75% of the issues are reserved for qualified institutional investors, 15% for non-institutional investors and 10% for individual investors.
The newly issued revenue will be used to repay the debt of the company and its subsidiaries.
Kotaku Mahindra Capital Company, Axis Capital, Credit Suisse Securities (India) and IIFL Securities have been appointed as lead underwriters on this issue. The shares are proposed to be listed on BSE and NSE.
KIMS Hospital IPO: Fixed at a price range of 815 to 825 rupees per share. Opening June 16th-What You Need to Know From DHRP as an Investor
Source link KIMS Hospital IPO: Fixed at a price range of 815 to 825 rupees per share. Opening June 16th-What You Need to Know From DHRP as an Investor