KIMS Hospitals `2,144-cr IPO priced at `815-`825

Hyderabad-based Krishna Institute of Medical Sciences (KIMS Hospitals), one of the largest hospital chains in Andhra Pradesh and Telangana, announced a Rs 2,144- crore initial public offering (IPO) in the price band of Rs 815 to Rs

825 per equity share of Rs

10 face value.

The public issue opens on June 16 and closes on June 18.

The KIMS Hospitals Group operates nine multi-specialty hospitals under the “KIMS Hospitals” brand across AP and Telangana.

The hospital chain started with the first hospital, KIMS Nellore, set up in

2000 by cardiologist Bhaskara Rao Bollineni with the vision to create a hospital system for his home state of Andhra Pradesh.

The current network of KIMS hospitals, with total

3,064 beds, are located at Secunderabad, Hyderabad, Vizag, Nellore, Rajahmundry, Srikakulam, Ongole, Anantapur and Kurnool, catering to the healthcare needs of neighbouring states of Karnataka, Odisha, Tamil Nadu and parts of central India.

The IPO comprises a fresh issue worth Rs 200 crore and an offer for sale of over 23.56 million equity shares by private equity investor General Atlantic Singapore and promoter selling shareholders-Bhaskara Rao Bollineni, Rajyasri Bollineni Bollineni

and

Ramanaiah

Hospital.

US-based General Atlantic holds 40.91 per cent stake in KIMS Hospitals and will be selling over 16 million shares worth Rs 1,320.29 crore at the upper

Memorial

price band of Rs 825.

The public offer has reserved 75 per cent shares for institutional investors, 15 per cent for non-institutional investors and 10 per cent for retail investors.