Kids Clinic India Ltd IPO
Cloudnine’s brand operator, Kids Clinic India, has filed preliminary papers with SEBI to raise funds via an IPO ...
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Last Updated: 10 October 2023 5:46 PM by 5Paisa
Cloudnine’s brand operator, Kids Clinic India, has filed preliminary papers with SEBI to raise funds via an IPO
The issue comprises a fresh issue of Rs 300 crore and an offer for sale of more than 1.32 crore equity shares by founders and investors. The company may consider raising funds worth Rs 60 crore via pre-IPO placement, diminishing the actual IPO size.
Founders R Kishore Kumar and Scrips 'N' Scrolls India will sell more than 18 lakh equity shares, while investors True North Fund V LLP, Indium V (Mauritius) Holdings, and SCI Growth Investments II will offload 1.14 crore equity shares via offer for sale.
The offer will also include a reservation of shares for the company's employees.
JM Financial, Axis Capital and ICICI Securities are the book running lead managers to the issue.
Objective of the Issue
The proceeds from the issue will be utilized towards:
1. repaying debts (Rs 95 crore)
2. setting up new centres at various locations (Rs 117.9 crore)
and acquisition of further shareholding in the subsidiary, Acquity Labs (Rs 12.71 crore)
3. general corporate purposes
Cloudnine, True North and Sequoia-backed, offers end-to-end coverage of all stages of the parenthood journey, beginning with fertility treatments, through maternity, neonatology, and pediatrics, dedicated to the holistic well-being of mother and baby.
The company started its first center in Bengaluru in 2006, with a vision to establish world-class mother and babycare-focused medical care facilities.
It owns, operates, and manages a network of 23 centers across six states and one union territory in India. It follows a concentric cluster approach focusing on two key regions, the NCR (National Capital Region) and Bengaluru, Karnataka.
| Particulars (in Rs. Crores) | FY21 | FY20 | FY19 |
|---|---|---|---|
| Revenue | 554.6 | 516.3 | 418.2 |
| EBITDA | 30.1 | 23.3 | -17.5 |
| PAT | -34.7 | -29.6 | -65.5 |
| Particulars (in Rs. Crores) | FY21 | FY20 | FY19 |
|---|---|---|---|
| Total Assets | 6.6 | 615.7 | 623.8 |
| Share Capital | 6.6 | 6.6 | 6.6 |
| Total Borrowings | 46.2 | 52.7 | 47.9 |
| Particulars (in Rs. Crores) | FY21 | FY20 | FY19 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | 103.16 | 71.48 | 24.86 |
| Net cash from / (used in) investing activities | -39.07 | -19.92 | -27.69 |
| Net cash flow from / (used in) financing activities | -57.17 | -58.21 | -4.29 |
| Net increase (decrease) in cash and cash equivalents | 6.92 | -6.65 | -7.12 |
Peer Comparison
| Name of the Company | Total Revenue | Basic EPS | Nav Rs. per share | PE | RoNW% |
|---|---|---|---|---|---|
| Kids Clinic India | 566.6 | -8.3 | 48.14 | NA | -17.2% |
| Apollo Hospitals Enterprise Limited | 10605.0 | 10.74 | 320.1 | 415.02 | 3.3% |
| Fortis Healthcare Limited | 4076.7 | -1.45 | 81.06 | NA | -0.8% |
| Narayana Hrudalaya Limited | 2610.5 | -0.7 | 54.82 | NA | -1.5% |
| Max Healthcare Institute Limited | 2619.4 | -1.59 | 58.37 | NA | -2.5% |
| Krishna Institute of Medical Sciences Limited | 1340.1 | 26.87 | 111.32 | 51 | 23.7% |
Strengths
1. Leading specialised mother and baby care chain operating in a fast-growing market
2. Differentiated, comprehensive and customer-focused approach to the perinatal journey
3. Clinical excellence and advanced medical technologies to deliver quality healthcare
4. Integrated digital ecosystem and proprietary technology stack for customers, doctors and staff
5. Ability to attract, train and retain high-quality doctors and staff
Risks
1. An inability to provide quality healthcare catering to the needs of the customers could adversely affect the reputation, business prospects and financial performance
2. unable to attract / retain doctors, nurses and other healthcare professionals
3. failure to identify, understand and adapt to rapidly evolving technological advancements related to the medical equipment and technology
4. Failure to negotiate on favourable pricing from the suppliers or vendors
5. Unable to expand its operations in cities they are present and newer markets
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FAQs
Kids Clinic India IPO details are yet to announced.
Kids Clinic India IPO details are yet to announced.
Kids Clinic India IPO details are yet to announced.
The IPO comprise of a fresh issue of Rs.300 crore and an offer for sale of more than 1.32 crore equity shares by founders and investors.
Kids Clinic India is a professionally managed company and does not have an identifiable promoter in terms of the SEBI ICDR Regulations and the Companies Act, 2013.
Kids Clinic India IPO details are yet to announced.
Kids Clinic India IPO details are yet to announced.
JM Financial, Axis Capital and ICICI Securities are the book running lead managers to the issue.
The proceeds from the issue will be used for:
1. repaying debts (Rs.95 crore)
2. setting up new centres at various locations (Rs.117.9 crore)
3. and acquisition of further shareholding in the subsidiary, Acquity Labs (Rs.12.71 crore)
4. general corporate purposes
To apply for the IPO, follow the steps given below
1. Login to your 5paisa account and select the issue in the current IPO section
2. Enter the number of lots and price at which you wish to apply for
3. Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange
You will receive a mandate notification to block funds in your UPI app