Cloudnine Hopes To Raise Around Rs. 1,200 Crore Filing DRHP With Sebi

Kids Clinic India Ltd, which works super-specialty mother and babycare chain Cloudnine, has recorded a fundamental outline with Sebi to raise Rs. 1,200 crore through an underlying offer deal.

The Initial Public Offering (IPO) comprises of a new issue of value shares worth up to Rs. 300 crore and a proposition available to be purchased (OFS) of up to 13,293,514 value shares by existing investors, as per the draft red herring prospectus (DRHP).

Dr. R Kishore Kumar, Scrips 'N' Scrolls India Pvt Ltd, True North Fund V LLP, Indium V (Mauritius) Holdings Ltd, and Sequoia Capital Investment are among the key investors selling partakes in the IPO. The proposition additionally incorporates a booking for a membership for qualified workers.

According to the sources, the organisation is hoping to raise around Rs. 1,200 crore through the IPO.

The new issuance proceeds worth Rs. 95 crore will be utilised for obligation installment, Rs. 117.90 crore for setting up seven new Mother and Baby centres at different areas over the course of the following few years, Rs. 12.71 crore for procurement of 49 per cent stake in its auxiliary, Acquity Labs other than broad corporate purposes.

Cloudnine offers end-to-end inclusion of all phases of the life as a parent venture, starting with fertility medicines, through maternity, neonatology, and pediatrics, devoted to the comprehensive prosperity of mother and child.

The organisation, which was established by Kumar and Rohit MA, began its first place in Bengaluru in 2006, with a dream to lay out top notch mother and babycare-centered clinical consideration offices.

It claims, works, and deals with an organisation of 23 centres across six states and one association domain in India. It follows a concentric bunch approach zeroing in on two key districts, the NCR (National Capital Region) and Bengaluru, Karnataka.

As of September 30, 2021, it had a group of 1,480 clinical experts, including 196 junior specialists and 1,284 attendants, and held clinical records of more than 7.6 lakh clients. In FY21 it had aided 16,801 conveyances and 5,994 fertility services.

For the a half year finished September 30, 2021, income from tasks developed 42.80 percent to Rs 371.65 crore against Rs 260.26 crore in a similar period a year prior.

The organisation's income from activities developed 7.42 per cent to Rs. 554.59 crore for monetary 2021 when contrasted with the earlier year. This expansion was basically because of higher conveyances.

The book running lead managers to the issue are JM Financial, ICICI Securities, and Axis Capital.