Kids Clinic India Ltd, the parent company of the super-speciality mother and babycare business Cloudnine, has filed an initial prospectus with Sebi to raise Rs 1,200 crore through an initial public offering.
As per the preliminary red herring prospectus, the initial public offering (IPO) would include a new issuance of equity shares worth up to Rs 300 crore, as well as an offer-for-sale (OFS) of up to 13,293,514 equity stocks by present shareholders (DRHP).
Among the prominent stockholders selling shares in the IPO are Dr. R. Kishore Kumar, Scrips ‘N’ Scrolls India Pvt Ltd, True North Fund V LLP, Indium V (Mauritius) Holdings Ltd, and Sequoia Capital Investment. For qualified personnel, the deal also includes a subscription reservation.
Cash flows from the new issuance will be utilized for debt repayment, Rs 117.90 crore for the establishment of seven new Mother and Baby centres in multiple locations in the next few years, Rs 12.71 crore for acquiring a 49% stake in its subsidiary, Acquity Labs, and general corporate purposes.
Cloudnine provides comprehensive coverage of all aspects of the parental experience, from fertility treatments to pregnancy, paediatrics, and neonatology, with a focus on the overall well-being of mother and child.
Kumar and Rohit MA launched the organization in 2006 in Bengaluru, with the goal of establishing world-class mother and baby health care centres. It owns, runs, and administers a network of 23 facilities in six Indian states and one union territory. It employs a concentric cluster model, with a concentration on two main regions: the NCR and Bengaluru.
It has a staff of 1,480 medical experts, including 196 junior physicians and 1,284 nurses, as of September 30, 2021, and maintained medical records for more than 7.6 lakh consumers. In fiscal year 21, it aided in 16,801 deliveries and 5,994 fertility services.
Revenue from operations increased 42.80% to Rs 371.65 crore in the six months ended September 30, 2021, compared to Rs 260.26 crore in the same time last year. When compared to the previous year, the company’s income from operations increased 7.42 percent to Rs 554.59 crore in fiscal 2021.
