KIMS (Krishna Institute of Medical Sciences Limited) on Thursday announced that the material subsidiary, that is, KIMS Hospital Enterprises Private Limited of KIMS has made an investment by acquiring equity stake of 8.06 percent in Kondapur Healthcare Limited, the company announced through an exchange filing.
Kondapur Healthcare Limited is a third-party company wherein the material subsidiary of the Company has acquired equity holding of 8.06 percent through a primary purchase.
The total paid-up Equity Share Capital of Kondapur Healthcare Private Limited as of date is Rs 124,00,15,000.
The acquisition is within the overall limit under the provisions of Section 186 of the Companies Act, 2013.
The shares were acquired at Rs 10 per equity share based on the valuation report and the total cost of acquisition is Rs. 10,00,00,000.
Kondapur Healthcare Limited is a green field project which is presently under construction of a hospital.
The shares of KIMS on Thursday at 3:30 pm IST were at Rs 1,908, up by 0.44 percent.