will be raising ₹1,500 crore via Qualified Institutional Placement (QIP).
The board of directors of the Hyderabad-based Hospital chain approved a proposal to “raise funds for an aggregate amount of up to and not exceeding ₹1,500 crore by way of issuance of equity shares, in one or more tranches by way of one or more Qualified Institutions Placements and/or any other permissible mode or any combination,’’ KIMS informed the Bombay Stock Exchange on Wednesday.
The Finance and Investment Committee of the Board will decide the terms and conditions of the proposed fund raise. The board also approved the Postal Ballot Notice for seeking Members’ approval.
KIMS shares fell 1.22 per cent to close at ₹680 on the BSE on Wednesday.