Ashish Kacholia cashes in on this debut stock after strong listing

The National Stock Exchange (NSE) bulk deals data showed that ace investor Ashish Kacholia sold 4,23,005 shares of KIMS at ₹959.59 per share on Monday (June 28), therefore, cashing in on the stock's strong listing gains. News reports had earlier suggested that Kacholia had applied for 2 million shares of the hospital-chain owner.

Societe Generali also sold 442,513 shares of KIMS on its debut at ₹981.41 per share through a bulk deal on NSE, the data showed. On the other hand, Nomura India Investment Fund Mother Fund bought 12,89,348 shares at ₹992.30 on Monday.

Shares of Krishna Institute of Medical Sciences (KIMS) marked a strong debut on the stock exchanges on Monday, listing at a 22% premium over their issue price. The Rs2,144 crore initial public offering (IPO) was open for subscription during 16-18 June and was subscribed 3.86 times. The price range for the offer was at ₹815-825 per share. The proceeds from the issue will be used to repay debt.

Krishna Institute of Medical Sciences is among the the largest corporate healthcare groups in Andhra Pradesh and Telangana in terms of the number of patients treated and treatments offered. It operates nine multi-specialty hospitals, with an aggregate bed capacity of 3,064, including over 2,500 operational beds as of 31 December.