Private Equity

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KIMS Hospitals' Rs.2,144-Cr IPO subscribed 3.86 times

Money Control  

The IPO of Hyderabad-based Krishna Institute of Medical Sciences (KIMS Hospitals) saw a subscription of 3.86 times. The offer received bids for 5.56 crore shares against the IPO size of 1.44 crore shares. The reserved portion of qualified institutional buyers has been subscribed 5.26 times and that of non-institutional investors, 1.89%. The part set aside for retail investors has been subscribed 2.90 times and employees have put in bids for 1.06 times of their reserved portion. KIMS Hospitals, one of the largest healthcare groups in Andhra Pradesh and Telangana, sought to raise INR 2,143.74 crore through the issue that comprised a fresh issue of INR 200 crore and an offer for sale of INR 1,943.74 crore by shareholders, including General Atlantic Singapore KH Pte Ltd. The price band was set at INR 815-825 a share. KIMS operates nine multispecialty hospitals with a total bed capacity of 3,064 as of March 31, 2021. It offers a range of healthcare services across over 25 specialties and super specialties, including cardiac sciences, oncology, neurosciences, gastric sciences, orthopaedics, organ transplantation, renal sciences and mother & child care.

From the Venture Intelligence PE-VC Deal Database: In Jun-18, General Atlantic had invested over INR 900-Cr in KIMS. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)