Krishna Institute of Medical Sciences Limited (KIMS), a prominent healthcare group in India, has successfully raised ₹1,500 crore (approximately USD 158 million) through a Qualified Institutions Placement (QIP). Esteemed law firm Shardul Amarchand Mangaldas & Co provided pivotal legal guidance throughout this significant financial endeavor.
The advisory team from Shardul Amarchand Mangaldas was led by Prashant Gupta, Partner and National Practice Head for Capital Markets. He was supported by a proficient team including Ruth Chenchiah, Partner; Ritika Khare, Principal Associate; Anoushka PV, Senior Associate; and associates Anaya Jain and Kunika Agarwal. Their collective expertise ensured the successful execution of this complex transaction.
The QIP saw participation from a diverse range of institutional investors, reinforcing confidence in KIMS’s strategic direction. Notable participants included the International Finance Corporation (IFC) and several top-tier mutual funds and insurance companies such as HSBC Mutual Fund, Edelweiss Mutual Fund, Axis Mutual Fund, ICICI Prudential Life Insurance, HDFC Life Insurance, and Kotak Mahindra Life Insurance.
The funds raised through this QIP are strategically earmarked for the repayment and/or prepayment of specific outstanding borrowings by KIMS and its subsidiaries. This financial maneuver is anticipated to strengthen the group’s financial stability and operational capacity.
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