Hospital chain Krishna Institute of Medical Sciences (KIMS) Ltd on Tuesday (September 3) announced that Friday, September 13, 2024, will be the record date for its 5-for-1 stock split.

“…we wish to inform you that Krishna Institute of Medical Sciences Limited has fixed Friday, September 13, 2024, as ‘Record Date’ to determine the eligibility of shareholders of the company…,” KIMS said in a regulatory filing. The split involves subdividing each fully paid-up equity share with a face value of ₹10 into five equity shares with a face value of ₹2 each.

This decision, aimed at enhancing share liquidity and affordability, was approved by shareholders during the company’s 22nd annual general meeting on August 29, 2024. Shareholders holding equity shares as of the record date will be eligible for the split, with the new shares ranking pari-passu in all respects.

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Last month, Krishna Institute of Medical Sciences acquired a 100% equity stake in Chalasani Hospitals Private Ltd (QNRI), a prominent 200-bed hospital based in Visakhapatnam.

“…we would like to inform you that M/s. Krishna Institute of Medical Sciences Limited (the Company) has acquired a 100% Equity Stake of M/s. Chalasani Hospitals Private Limited (QNRI) Visakhapatnam,” according to a stock exchange filing. The transaction, valued at ₹28 crore, includes the purchase of all shares of QNRI, which boasts a turnover of ₹62.60 crore for the fiscal year ending March 31, 2023.

Founded in 1995, QNRI operates a 200-bed NABH-accredited super specialty hospital situated in a prime residential locality of central Vizag. Known for its excellence in cardiology and comprehensive oncology, the hospital has seen steady financial performance with turnovers of ₹68.18 crore and ₹72.33 crore in the preceding fiscal years.

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Shares of Krishna Institute of Medical Sciences Ltd ended at ₹2,560, up by ₹7.95, or 0.31%, on the BSE.