Krishna Institute of Medical Sciences543308Routine SEBI update

QIP monitoring report: ₹1,500 crore raised, ₹1,332 crore utilised, nil deviation from objects

CARE Ratings has issued its monitoring agency report on the QIP proceeds for the quarter ended September 30, 2026.

By ScoutQuest · Wed 4 Nov 2026, 8:53 PM IST · 3 min read

QIP Issue Size: ₹1,500 crore
Total Utilised at End of Quarter: ₹1,332.00 crore
Total Unutilised: ₹168.00 crore

What this update is

Krishna Institute of Medical Sciences raised ₹1,500 crore through a qualified institutional placement (QIP) between June 16, 2026 and June 19, 2026. CARE Ratings is the monitoring agency for that issue and has reported on the use of the money for the quarter ended September 30, 2026. The report was reviewed by the company's Audit Committee.

How much has been used

Issue size: ₹1,500 crore; net proceeds ₹1,476.45 crore.
Utilised till Q2FY27, as stated in the monitoring agency's comments: ₹1,311.81 crores.
Total utilised at the end of the quarter: ₹1,332.00 crore, against ₹1,086.49 crore at the start of the quarter, so ₹245.51 crore was used during the quarter.
Total unutilised: ₹168.00 crore.
Deviation from the objects: Nil. No material deviation, no change in the means of finance, and no delay in implementation.

Where the money went

Repayment and/or prepayment of borrowings availed by KIMS: ₹910.00 crore proposed, fully utilised, with the report noting this object was fully used in the previous quarter (April to June 2026).
Investment in Chalasani Hospitals, KIMS Hospitals and KIMS Hospital Bengaluru for repaying their borrowings: ₹215.00 crore proposed, fully utilised. Of the ₹85 crore used this quarter, ₹65 crore went to KIMS Hospitals Private Limited and ₹20 crores to KIMS Hospital Bengaluru Private Limited.
General corporate purposes: ₹351.45 crore proposed, ₹186.81 crore utilised, ₹164.65 crore unutilised.
Issue expenses: ₹23.55 crore proposed, ₹20.19 crore utilised, ₹3.35 crore unutilised.

What the general corporate purpose money was spent on

Salary payments of KIMS Limited: ₹48.72 crore
Investment in Saveera Institute of Medical Sciences Private Limited (subsidiary): ₹25.00 crore
Investment in KIMS Hospital Bengaluru Private Limited (subsidiary): ₹16.00 crore
Doctor payments of KIMS Limited: ₹16.00 crore
Investment in KIMS Hospitals Private Limited (subsidiary): ₹15.00 crore
Vendor payments: ₹14.59 crore
TDS payments of KIMS Limited: ₹5.50 crore
Investment in Chalasani Hospitals Private Limited (subsidiary): ₹2.00 crore
Total: ₹142.81 crore

Where the unutilised money is kept

Money Market Fund – ICICI Prudential Direct Growth: ₹154.00 crore invested, market value ₹158.14 crore at quarter end.
Liquid Fund – ICICI Prudential Direct Growth: ₹13.00 crore invested, market value ₹13.22 crore at quarter end.
Monitoring agency account with Kotak Mahindra Bank: ₹0.94 crore.
Escrow account with Kotak Mahindra Bank: ₹0.06 crore.
Total ₹168.00 crore, of which ₹167.00 crore is temporarily deployed in money market and liquid funds with ICICI Prudential Mutual Fund.

Point to note

For general corporate purposes, ₹84.81 crore was transferred from the Monitoring Agency Account to the company's current account and ₹58.00 crore was moved as investments into the current accounts of subsidiaries. The report states that because these current accounts are also used for routine business transactions, the monitored proceeds were commingled with regular business funds.

Timeline

As per the placement document, the objects are to be completed by March 31, 2027. The report shows the borrowing repayment object as completed in Q1FY27, the subsidiary investment object in Q2FY27, and general corporate purposes as ongoing, with no delay reported.

In simple terms

This is a status update on the use of QIP money, recording nil deviation from the stated objects, most of the proceeds already applied to debt reduction, and a small unutilised balance held in liquid instruments and bank accounts.

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