Newly listed KIMS Hospital share price surges again; stock up 61% from issue price

The shares of the newly listed hospital chain Krishna Institute of Medical Sciences (KIMS) have touched a new 52-week high to Rs 1325 per share after rallying for nearly 6 per cent on the BSE intraday trade today. The scrip has been surging for the fourth straight session has soared around 18 per cent. 

The stock has spurted 61 per cent from its issue price of Rs 825 per cent as institutional investors lapped up the company’s shares post listing, while since listing on Jul 5, it jumped over 40 per cent.

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KIMS Hospital is one of the largest corporate healthcare groups in southern parts of India, mainly in Andhra Pradesh and Telangana in terms of the number of patients treated and treatments offered. 

It operates nine multi-specialty hospitals under the 'KIMS Hospitals' brand, with an aggregate bed capacity of 3,064, including over 2,500 operational beds as of March 31, 2021.

According to the June quarter shareholding pattern filed by the hospital chain reveals that institutional investors purchased an additional 1.24 million equity shares or 1.55 per cent stake in the company via open market post listing. 

Following this, mutual funds' holding increased to 10.75 per cent from 8.70 per cent, and that of foreign portfolio investors (FPIs) rose to 11.57 per cent from 10.95 per cent at the time of listing.

Meanwhile, retail or individual shareholders' stake in KIMS declined by 3.04 percentage points to 13.14 per cent from 16.18per cent, the shareholding data shows. 

Ace investor Ashish Kacholia’s holding in the company slipped below 1 per cent from 1.47 per cent on June 25, 2021

At the end of FY21, KIMS nine hospitals had recorded an average revenue per operating bed of Rs 20,609 and a bed occupancy rate of 78 per cent. Most brokerages had recommended investors to subscribe to the issue for the long-term considering healthy industry growth prospects.