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Kids Clinic India files Rs 1200 crore IPO papers with SEBI

15 Feb 2022 Evaluate

Kids Clinic India, which operates super-specialty mother and babycare chain Cloudnine, has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise up to Rs 1200 crore through an initial public offering (IPO). 

Proceeds from fresh issuance worth Rs 95 crore will be used for debt payment, Rs 117.90 crore for setting up seven new Mother and Baby centers at various locations over the next few years, Rs 12.71 crore for acquisition of 49 percent stake in its subsidiary, Acquity Labs besides general corporate purposes. JM Financial, ICICI Securities, and Axis Capital are the book running lead managers to the issue.

Kids Clinic India provides maternity and infant care. The company offers gynecology and neonatal care. The company serves customers in India.


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