KIMS Hospitals shares debut at over 22% premium to issue price
The stock listed with a premium of over 22 percent at Rs 1,009 per share on the NSE as well as BSE versus its issue price of Rs 825 per share.
Shares of Krishna Institute of Medical Sciences (KIMS Hospitals) made a stellar debut on the bourses on Thursday. The stock listed with a premium of over 22 percent at Rs 1,009 per share on the NSE as well as BSE versus its issue price of Rs 825 per share.
The Rs 2,144 crore IPO, which was open from June 16-18, had set a price band at Rs 815-825 per share. It was subscribed 3.86 times with the reserved portion of qualified institutional buyers (QIPs) subscribed 5.26 times, non-institutional investors 1.89 times. The portion set aside for retail investors witnessed a subscription of 2.9 times and employees 1.06 times.
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The IPO includes a fresh issue of 1.44 crore shares and an offer for sale of 2.35 crore equity shares. The total issue size comes to Rs 2,143.7 crore.
The 75 percent of issue size has been reserved for qualified institutional buyers, 10 percent for retail, and the balance 15 percent for non-institutional investors.
The net proceeds from the fresh issue will be utilised for repayment of certain borrowings (Rs 150 crore) availed by the company and its subsidiaries; and general corporate purposes.
Most brokerages recommend subscribing to the issue on the back of KIMS’ regional dominance in Andhra Pradesh and Telangana, potential growth prospects, strong balance sheet, diversified revenue, and strong financials.
(Edited by : Pranati Deva)
First Published: Jun 28, 2021 10:02 AM IST
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