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IPO · Healthcare & Life Sciences

Kids Clinic India files for initial public offering

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Date
Company
Kids Clinic India Ltd
What it does
Healthcare centers under Cloudnine Care
Kind
IPO
Amount
₹300 Cr
Based in
Hyderabad
Sector
Healthcare & Life Sciences

What they do

Kids Clinic India operates healthcare facilities under the brand name Cloudnine Care

What happened

The company filed for an IPO (initial public offering; first sale of stock to the public) with a fresh issue of ₹300 crore

Why it matters

The public issue also includes an offer for sale (existing shareholders sell their shares; no new money reaches the company) of up to 13,293,514 shares

The details

  • Kids Clinic India filed for an IPO featuring a fresh issue of up to ₹300 crore.
  • The public issue includes an offer for sale of up to 13,293,514 equity shares by existing shareholders.
  • The company may consider a pre-IPO placement of up to ₹60 crore, which would lower the fresh issue size.
  • Up to 5% of the post-offer paid-up equity share capital is set aside as an employee reservation portion.
  • The equity shares have a face value of ₹5 each and are proposed to list on the NSE Mumbai.
  • Net proceeds are earmarked to prepay or repay borrowings, set up new centers, and buy more stake in subsidiary Acuity Labs.

The bigger picture

  • The offer for sale allows founder shareholders and financial investors to offload part of their equity holdings.
  • Investor selling shareholders include True North Fund V LLP, Indium V (Mauritius) Holdings Limited, and SCI Growth Investments II.
  • Founder selling shareholders participating in the offer are Dr. R Kishore Kumar and Scrips 'N'Scrolls India Private Limited.

About the business

  • Kids Clinic India Ltd runs its business under the brand Cloudnine Care.
  • The company has a subsidiary named Acuity Labs.
  • The company is based in Hyderabad, India.

What happens next

  • The company will apply fresh issue proceeds toward repaying or prepaying borrowings.
  • Capital will also be used to establish new centers and buy an additional stake in subsidiary Acuity Labs.

The deal

Type
IPO

Investors

  • True North Fund V LLP (seller) — Investor selling shareholder offloading up to 5,763,392 equity shares.
  • Indium V (Mauritius) Holdings Limited (seller) — Investor selling shareholder offloading up to 2,171,270 equity shares.
  • SCI Growth Investments II (seller) — Investor selling shareholder offloading up to 3,506,408 equity shares.
  • Dr. R Kishore Kumar (seller) — Founder selling shareholder offloading up to 924,444 equity shares.
  • Scrips 'N'Scrolls India Private Limited (seller) — Founder selling shareholder offloading up to 928,000 equity shares.

Founders

  • Dr. R Kishore Kumar, Founder
  • Scrips 'N'Scrolls India Private Limited, Founder selling shareholder

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