Krishna Institute of Medical Sciences Issues Corrigendum for EGM Notice, Updates Debts and Clarifies Promoter Status
Krishna Institute of Medical Sciences Limited (KIMS) has issued a Corrigendum to its Extraordinary General Meeting (EGM) Notice, originally dated 15 June 2026. The update addresses inadvertent typographical errors in the explanatory statement related to Item No. 1 of the EGM Notice and provides necessary clarifications concerning the proposed preferential issue of equity shares.The Corrigendum pertains to the EGM scheduled for Thursday, 9 July 2026, through Video Conferencing (VC) / Other Audio Visual Means (OAVM).
Financial Updates on Outstanding Debts
One key modification concerns the outstanding debts proposed to be repaid from the Issue Proceeds. The updated details reflect revised amounts for financing availed by KIMS Hospital Bengaluru Private Limited and Arunodaya Hospitals Private Limited, referred to as Target Subsidiaries.The correct amount reflected in the table concerning 'Total Outstanding as on 30 April 2026 (₹)' for these debts is ₹ 2,27,91,60,879 and ₹ 69,87,99,104, respectively. The total updated figure for repayment from the Issue Proceeds stands at ₹ 3,42,79,59,983/-.
The details of the outstanding debts are presented as follows:
| Sr. No. | Name of the Entity | Name of the Bank | Nature of Debts | Total Outstanding as on 30 April 2026 ( ₹) |
|---|---|---|---|---|
| 1. | KIMS Hospital Bengaluru Private Limited | ICICI Bank Limited | Term Loan (Capital expenditure for hospital construction and equipment purchase) | ₹ 2,27,91,60,879/- |
| 2. | Arunodaya Hospitals Private Limited | Indusind Bank Limited | Term Loan (For setting up a new block and renovation of old block) | ₹ 69,87,99,104/- |
| 3. | KIMS Hospital Bengaluru Private Limited | Axis Bank Limited | Working Capital requirement | ₹ 45,00,00,000/- |
| Total | ₹ 3,42,79,59,983/- |
Clarification on Promoter Group Status
The Corrigendum also includes a clarification regarding the status of certain individuals and entities in relation to the Proposed Allottees post the Preferential Issue.Dr. Abhinay Bollineni and Mr. Adwik Bollineni are confirmed as natural persons and Promoters of the Company, both prior to and post the completion of the Preferential Issue.
Furthermore, Bharas Ventures LLP is clarified as a part of the Promoter Group of the Company before and after the preferential issue. The members of Bharas Ventures LLP who contributed capital include Dr. Bhaskara Rao Bollineni and Ms. Rajyasri Bollineni.
The Corrigendum states that all other terms and contents of the original EGM Notice shall remain unchanged and must be read in conjunction with this updated document.
KIMS Stock Price Movement
On Friday, shares of Krishna Institute of Medical Sciences Limited gained 1.47%, closing at ₹850.65 as the stock pushed near its annual high. The surge was supported by a traded volume of 561,178 shares, confirming strong investor interest in the healthcare provider.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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