InvestorQ : What are the terms of the Krishna Medical IPO and when is it likely to hit the market?
ishika Banerjee made post

What are the terms of the Krishna Medical IPO and when is it likely to hit the market?

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1 month ago
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One of India’s largest and most expansive hospital and healthcare chains, Krishna Institute of Medical Sciences or KIMS, plans to hit the IPO market shortly. The healthcare outfit is based in the city of Hyderabad, Telangana and is spread out across the region. KIMS has already filed preliminary papers with SEBI to raise a sum of Rs.700 crore through an Initial Public Offer or IPO.

The IPO will comprise of a fresh issue of shares totalling Rs.200 crore and another 21.34 million shares will be given under offer-for sale of the OFS. Apart from the early investor, General Atlantic Singapore, the promoter family will also look to partially monetize their stake in KIMS. The total size of the OFS is expected to be around Rs.500 crore, which will not accrue into the company as it would only result in a transfer of stake.

According to initial reports, the IPO is expected to fetch close to Rs.700 crore and the demand is likely to be robust due to marquee investors already present. The company plans to use the proceeds of the fresh issue portion of Rs.200 crore to partially defray the debt of the group, including the subsidiary companies of KIMS. The healthcare chain currently operates 9 multi-specialty hospitals with an aggregate 3064-bed capacity.  

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