Krishna Institute of Medical Sciences (KIMS Hospitals) share price ended at 987.50 per share, down 2 percent on the listing day, on the NSE.
The share finished 1.29 percent lower at Rs 995.90 on the BSE.
The share traded with a volume of 1.33 crore equity shares on the NSE and 6.19 lakh shares on the BSE.
It opened with a 22.29 percent premium to IPO price, on June 28. It was a decent kind of listing on the bourses which was on expected lines given the leadership in Andhra Pradesh and Telangana region, strong operational performance, and experienced senior management team.
The stock price started off the day at Rs 1,008.90 on the BSE against issue price of Rs 825, while it climbed 22.30 percent to Rs 1,009 on the National Stock Exchange.
KIMS operates in nine multi-specialty hospitals under the 'KIMS Hospitals' brand, with an aggregate bed capacity of 3,064, with more than 2,500 operational beds as on FY21, which is 2.2x more than the second largest provider in Andhra Pradesh and Telangana.
"Going forward, we expect better operational performance with the break-even stage of four newly acquired hospitals having lesser payback period and are ready to serve customers from day zero. We believe KIMS is relatively valued cheaply at 17.1x FY21 EV/EBITDA in comparison to its peers," said Prabhudas Lilladher.
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"Though we expect reasonable listing gains, yet maturity and operational delivery in four hospitals needs significant improvement, for any compelling rerating in the medium term," the brokerage added.
The multi-specialty hospitals chain raised Rs 2,144 crore from investors during June 16-18, which comprised a fresh issue of Rs 200 crore and an offer for sale of up to Rs 1,944 crore. The company will pay its certain borrowings through the funds raised via fresh issue.
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