Krishna Institute of Medical Sciences Limited (KIMS Hospitals) has released its Monitoring Agency Report for the quarter ended June 30, 2026. The report, issued by CARE Ratings Limited, indicates that a significant portion of the funds raised through a Qualified Institutional Placement (QIP) has been deployed. Out of the total aggregated amount of ₹1,500 crore, ₹1,084 crores have been utilized as of the end of Q1FY27, primarily towards repayment of borrowings and investments in subsidiaries.
KIMS Hospitals: Monitoring Agency Report for Q1 FY27 Released
Krishna Institute of Medical Sciences Limited (KIMS Hospitals) has submitted its Monitoring Agency Report for the quarter ending June 30, 2026. This report, prepared by CARE Ratings Limited as the Monitoring Agency, details the utilization of proceeds from the Qualified Institutional Placement (QIP) issue. The company has confirmed that the funds are being utilized in line with the objects disclosed in the placement document.
Fund Utilization Details
The total issue size was ₹1,500 crore. As of the end of the first quarter of FY27 (Q1FY27), a total of ₹1,086.49 crore has been utilized. Specifically:
- Repayment and/or prepayment of outstanding borrowings: ₹910 crore was allocated and fully utilized towards this object during the quarter.
- Investment in subsidiaries: ₹130 crore was utilized towards investments in subsidiaries, primarily for repayment of their borrowings. Out of this, ₹100 crore was utilized for Chalasani Hospitals Pvt Ltd.
- General Corporate Purposes (GCP): ₹44.00 crore has been utilized for GCP. This includes payments towards salaries and consultants (₹22 crore) and investments in KIMS Hospitals Bengaluru (₹20 crore) and Chalasani Hospitals (₹2.00 crore).
The remaining unutilized proceeds are ₹413.51 crore. These funds have been temporarily deployed in money market, overnight, and liquid mutual funds with ICICI Prudential Mutual Fund, and the balance is held in the Monitoring Agency Account and Escrow Account with Kotak Mahindra Bank.
Key Highlights
- The report confirms no major deviations from the objects of the issue.
- All utilizations are as per the disclosures in the offer document.
- There have been no material deviations from expenditures disclosed.
- No major unfavorable events have affected the viability of the objects.
The report also provides details on the deployment of unutilized proceeds, which are currently invested in short-term instruments and bank accounts, as permitted by the placement document.
Source: BSE
