Krishna Institute of Medical Sciences Ltd has fixed a price band for its initial public offering (IPO) at Rs 815-825 per share. The firm’s IPO will open on 16 June and close on 18 June. Its IPO consists of a fresh issue of Rs 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 Rs 1,943. 70 crore.

The OFS comprises sales 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 the debt of the company and its subsidiaries.

• Signature Global Shares Soar 6% on Entering a Rs 1,283 Crore JV 
• Ashoka Buildcon Shares Slump 3% Despite Securing Rs 410 Crore Project 
• Zydus Lifesciences Gets USFDA Nod; Stock Trades Flat
• Religare Enterprises Shares Slumped 6% on Demerger Plan 
• Natco Pharma Gets CDSCO Nod; Shares Rally 12.5%

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.