Krishna Institute shines on executing definitive agreement to acquire 51.07% stake in Sarvejana Healthcare
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Krishna Institute is currently trading at Rs. 1132.55, up by 51.55 points or 4.77% from its previous closing of Rs. 1081.00 on the BSE.
The scrip opened at Rs. 1124.40 and has touched a high and low of Rs. 1135.30 and Rs. 1101.55 respectively. So far 7802 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1394.20 on 20-Aug-2021 and a 52 week low of Rs. 938.05 on 30-Jun-2021.
Last one week high and low of the scrip stood at Rs. 1139.00 and Rs. 1060.05 respectively. The current market cap of the company is Rs. 8962.71 crore.
The promoters holding in the company stood at 38.84%, while Institutions and Non-Institutions held 28.54% and 32.61% respectively.
Krishna Institute of Medical Sciences (KIMS) Hospitals has executed definitive agreement to acquire a majority stake (51.07%), (as a combination of 18.52% stake through equity shares and the remainder through partly paid-up equity shares, which shall be fully paid up by April 2022 based on an agreed schedule) in Sarvejana Healthcare (herein referred to as ‘Sunshine Hospitals’), which own and operates hospitals in and around Hyderabad, Telangana under the brand 'Sunshine Hospitals’, at an enterprise value of Rs 730 crore.
The acquisition deal is expected to be Earnings Per Share (EPS) accretive and provides an enhanced platform for KIMS to further strengthen its presence in the key home market of Hyderabad and Secunderabad.
Krishna Institute of Medical Sciences offers a comprehensive range of healthcare services including oncology, cardiac sciences, neurosciences, gastric sciences, orthopaedics, renal sciences, organ transplantation, and mother & child care.
