Krishna Institute of Medical Sciences Limited (KIMS Hospitals) has officially confirmed that there was NIL deviation or variation in the utilization of funds raised through its Qualified Institutional Placement (QIP). This confirmation pertains to the quarter ended September 30, 2026, as per regulatory requirements. The company provided a detailed statement of deviation or variation, reviewed by its Audit Committee, to the stock exchanges.
KIMS Hospitals Reports No Deviation in QIP Fund Usage
Krishna Institute of Medical Sciences Limited (KIMS Hospitals) has issued a formal statement confirming the absence of any deviation or variation in the utilization of funds raised via Qualified Institutional Placement (QIP). This report covers the financial quarter ending September 30, 2026, aligning with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and subsequent circulars.
Details of Fund Utilization
The company raised ₹1500 Crore through its QIP on June 19, 2026. The funds were allocated towards specific objects detailed in the Placement Document dated June 19, 2026. For the quarter ended September 30, 2026, KIMS Hospitals has confirmed that the utilization of these proceeds was strictly in accordance with the stated objectives, with NIL deviation or variation reported.
Audit Committee Review
A statement of deviation or variation, if any, for the quarter ended September 30, 2026, was duly reviewed by the Company’s Audit Committee. The committee, in its meeting held on November 4, 2026, noted that there was indeed NIL deviation or variation in the utilization of funds from the objects stated in the offer document. The auditors also confirmed ‘None’ in their comments.
Fund Allocation Breakdown
The total funds raised amounted to ₹1,500.00 Crore. The utilized amount as of the reporting period stands at ₹1,332.00 Crore. The allocation includes:
- Repayment and/or prepayment of certain outstanding borrowings: ₹910.00 Crore utilized.
- Investment into certain Subsidiaries (e.g., Chalasani Hospitals Pvt Ltd, KIMS Hospitals Pvt Ltd, KIMS Hospital Bengaluru Pvt Ltd) for repayment or prepayment of borrowings: ₹215.00 Crore utilized.
- General Corporate Purposes: ₹186.81 Crore utilized.
- Issue Expenses: ₹20.19 Crore utilized.
Source: BSE
