KIMS board approves up to ₹1,500 crore equity fundraise

Krishna Institute of Medical Sciences Ltd (KIMS) on Wednesday, March 11, approved a proposal to raise upto ₹1,500 crore through the issuance of equity shares via a qualified institutions placement (QIP) or other permissible routes.In an exchange filing, the hospital chain said its board of directors cleared the fundraising plan at a meeting held earlier in the day. However, the fundraising will be subject to shareholder and regulatory approvals as well as the determination of the issue price.

The proposed issue will be subject to approvals from shareholders and other regulatory authorities, along with the determination of the issue price.
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KIMS said the board has authorised its Finance & Investment Committee to decide the detailed terms and conditions of the proposed fundraising.The board has also approved the issuance of a postal ballot notice to seek shareholders’ approval for the fundraising proposal.

The company added that the securities proposed to be issued will be equity shares, with the total issue size capped at ₹1,500 crore, including any applicable premium.

For the December quarter, KIMS’ net profit fell 39.8% year-on-year to ₹53.4 crore from ₹88.7 crore in Q3FY25. Revenue jumped 29.2% YoY to ₹997.7 crore from ₹772.4 crore in the year-ago quarter. EBITDA was up 6.3% YoY to ₹199 crore from ₹187 crore last year. However, the margin dropped to 19.9% in from 24.2% a year earlier.

Shares of the company closed 1.38% lower at ₹679 following the announcement. The stock has gained 28.85% over the past year.