Krishna Institute of Medical Sciences Limited’s Initial Public Offering to

 Krishna Institute of Medical Sciences Limited’s Initial Public Offering 

to open on Wednesday, June 16, 2021

·           Price Band of Rs 815 to Rs 825 per equity share of face value of Rs. 10 each (“Equity Shares”)

·           Bid /Offer Opening Date – Wednesday, June 16^th, 2021 and Bid/ Offer Closing Date – Friday, June 18^th, 2021

·           Minimum Bid Lot is 18 Equity Shares and in multiples of 18 Equity Shares thereafter

·           The Floor Price is 81.50 times the face value of the Equity Shares and the Cap Price is 82.50 times the face value of the Equity Shares.

 

Krishna Institute of Medical Sciences Limited (the “Company” or “KIMS Hospitals”), will open the Bid/Offer period in relation to its initial public offering of Equity Shares on Wednesday, June 16, 2021 (the “IPO”/ “Offer”). The Bid / Offer Period will close on Friday June 18^th, 2021. The Price Band of the Offer has been fixed at Rs. 815 to Rs. 825 per Equity Share.

The IPO comprises a fresh issue aggregating up to Rs. 2,000 million (the “Fresh Issue”) and an offer for sale of up to 23,560,538 Equity Shares (the “Offer for Sale”), up to 16,003,615 Equity Shares by General Atlantic Singapore KH Pte. Ltd. (the “Investor Selling Shareholder”), up to 387,966 Equity Shares by Dr Bhaskara Rao Bollineni, up to 775,933 Equity Shares by Rajyasri Bollineni, up to 387,966 Equity Shares by Bolllineni Ramanaiah Memorial Hospital Private Limited (collectively, the “Promoter Selling Shareholders”), up to 6,005,058 Equity Shares by persons referred to in Annexure A to the red herring prospectus dated June 9, 2021 (“RHP”) (the “Other Selling Shareholders”, and together with the “Investor Selling Shareholder” and “Promoter Selling Shareholders”, the “Selling Shareholders”, and such Equity Shares, the “Offered Shares”).

The Offer includes a reservation aggregating up to Rs. 200 million for subscription by Eligible Employees of the Company (the “Employee Reservation Portion”).  Further, the Offer includes an employee discount of up to Rs. 40 on the Offer Price for Eligible Employees Bidding in the Employee Reservation Portion.

The Offer less the Employee Reservation Portion is referred to as the “Net Offer”.

Bids can be made for a minimum of 18 Equity Shares and in multiples of 18 Equity Shares thereafter.

The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”) read with Regulation 31 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (the “SEBI ICDR Regulations”). The Offer is being made through the Book Building Process, in compliance with Regulation 6(2) of the SEBI ICDR Regulations, wherein not less than 75% of the Net Offer will be allotted on a proportionate basis to Qualified Institutional Buyers (“QIBs”, the “QIB Portion”), provided that Company’s Board or the IPO Committee, as applicable, may, in consultation with the Book Running Lead Managers, allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the price at which allocation is made to Anchor Investors (“Anchor Investor Allocation Price”).

Further, 5% of the Net QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIBs (excluding the Anchor Investor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. If at least 75% of the Offer cannot be allotted to QIBs, then the entire application money will be refunded forthwith. Further, not more than 15% of the Net Offer shall be available for allocation on a proportionate basis to Non-Institutional Investors and not more than 10% of the Net Offer shall be available for allocation to Retail Individual Bidders, in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. Further, Equity Shares may be allocated on a proportionate basis to Eligible Employees applying under the Employee Reservation Portion, subject to valid Bids received from them at or above the Offer Price.

All potential Bidders (except Anchor Investors) are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process providing details of their respective ASBA accounts, and UPI ID in case of RIBs using the UPI Mechanism, if applicable, in which the corresponding Bid Amounts will be blocked by the SCSBs or by the Sponsor Bank under the UPI Mechanism, as the case may be, to the extent of respective Bid Amounts. Anchor Investors are not permitted to participate in the Offer through the ASBA process.

The Equity Shares offered in this Offer are proposed to be listed on both BSE Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”, together with BSE, the “Stock Exchanges”) post the listing. 

Kotak Mahindra Capital Company Limited, Axis Capital Limited, Credit Suisse Securities (India) Private Limited and IIFL Securities Limited are the Book Running Lead Managers to the Offer.

All capitalized terms used herein and not specifically defined shall have the same meaning as ascribed to them in the RHP.