Kids Clinic India Limited, brand name “Cloudnine” is coming out with an IPO, the offer size of which is yet to be finalized.
The IPO comprises of –
- a fresh issue of equity shares aggregating up to Rs. 300 crores, and
- an offer for sale (OFS) component of 132,93,514 equity shares
The face value of each Kids Clinic India Limited equity share is Rs. 5 each.
As per the Draft Red Herring Prospectus (DRHP) filed with SEBI, the company does not have any identifiable promoters.
The book-running lead managers of the public offering are JM Financial Limited, Axis Capital Limited, and ICICI Securities Limited. And the registrar for the issue is KFin Technologies Private Limited.
See the list of upcoming IPO in 2023.
Kids Clinic India Limited Overview
Cloudnine’s first center was established in Bengaluru, Karnataka in 2006. Kids Clinic has since grown under the guidance of founders, Dr. R. Kishore Kumar and Mr. Rohit M A.
Both doctors are experienced neonatologists having practiced previously in Australia and the USA
Kids Clinic is a leading brand in the super-specialty mother and baby-care space for fiscal 2021. The company has set up 23 centers across six states and one union territory in India.
Their facility at Bengaluru ranked No. 1 in National Single-Speciality Hospitals by the Times of India in 2020 in the Ob-Gyn and Paediatrics category.
And their Gurugram facility was ranked as No.1 in All India Fertility & IVF Hospitals/clinic ranking survey 2020-2021.
Geographically, it continues to focus on two key regions, the NCR (National Capital Region) and Bengaluru, Karnataka for the medium term.
Kids Clinic provides expectant mothers with quality medical expertise, medically-advanced facility infrastructure and a bespoke motherhood journey covering most of their needs.
As of September 30, 2021, Cloudnine had assisted with
- 9,155 deliveries
- 3,782 fertility services
Cloudnine offers end-to-end coverage of all stages of the parenthood journey, beginning with fertility treatments, through maternity, neonatology and pediatrics, dedicated to the holistic well-being of mother and baby.
Kids Clinic India Limited IPO Details
| Particulars | Details |
| IPO Opening date | (TBD) |
| IPO Closing date | (TBD) |
| IPO Price | Rs. xx to Rs. xx (TBD) |
| Lot size | xx shares (TBD) |
| Issue size | Rs. xx Cr (TBD) |
| No. of fresh shares | Xx shares aggregating to Rs. 300 crores |
| Offer for Sale | 132,93,514 shares aggregating to Rs. xx crores |
| Listing on | BSE and NSE |
Kids Clinic India LimitedIPO Timetable
| Particulars | Details |
| IPO Opening date | (TBD) |
| IPO Closing date | (TBD) |
| Basis of Allotment date | (TBD) |
| Credit of Share | (TBD) |
| Listing date | (TBD) |
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Kids Clinic India Limited GMP
Grey Market Price (GMP) information is available approximately 4-5 days before the IPO opens and persists until the listing date.
For Kids Clinic India Limited Ltd IPO, we have already obtained GMP data for the past 3 days, which should provide a reasonable indication of price upon listing.
GMP serves as an effective reflection of the true narrative surrounding a stock. But you need to take precautions because GMP is not an official price and only an indicative value.
Below is a brief summary of the GMP for Kids Clinic India Limited Ltd for the last 4 days obtained from various sources on the internet.
| Date | GMP |
| 2023 | Rs. xx (TBD) |
| 2023 | Rs. xx (TBD) |
| 2023 | Rs. xx (TBD) |
| 2023 | Rs. xx (TBD) |
Kids Clinic India LimitedSubscription Data
| Date | QIB | NII | Retail | Employee | Total |
| Day – 1 2023 | (TBD) | (TBD) | (TBD) | (TBD) | (TBD) |
| Day – 22023 | (TBD) | (TBD) | (TBD) | (TBD) | (TBD) |
| Day – 32023 | (TBD) | (TBD) | (TBD) | (TBD) | (TBD) |
Promoter Details
As per the Draft Red Herring Prospectus (DRHP) filed with SEBI, the company does not have any identifiable promoters.
Company Financials
Key financials of Kids Clinic India Limited Ltd for the fiscal years FY21, FY20 and FY19.
| Details | FY- 2021 | FY- 2020 | FY- 2019 |
| Revenue from operations | Rs. 554.5 cr | Rs. 516.3 cr | Rs. 418.2 cr |
| Total expenses | Rs. 600.9 cr | Rs. 562.3 cr | Rs. 503.05 cr |
| Net Loss | Rs. 34.7 cr | Rs. 29.6 cr | Rs. 65.4 cr |
| Networth | Rs. 203.8 cr | Rs. 233.5 cr | Rs. 240.9 cr |
| Return on net-worth | -17.24% | -12.78% | -27.29% |
| Return on Capital Employed (%) | 1.29% | 1.05% | -5.69% |
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Kids Clinic India Limited Peer Comparison
Kids Clinic India Limited peer comparison with similar listed entities peers (As on March 31, 2021).
| Company | EPS Basic | EPS Diluted | NAV | P/E | RoNW |
| Kids Clinic India Limited | – 8.30 | -8.30 | 48.14 | – | -17.24% |
| Apollo Hospitals Enterprise Limited | 10.74 | 10.74 | 320.10 | 415.02 | 3.30% |
| Fortis Healthcare Limited | -1.45 | -1.45 | 81.06 | NA | -0.75% |
| Narayana Hrudalaya Limited | -0.70 | -0.70 | 54.82 | NA | -1.46% |
| Max Healthcare Institute Limited | -1.59 | -1.59 | 58.37 | NA | -2.47% |
| Krishna Institute of Medical Sciences Limited | 26.87 | 26.42 | 111.32 | 51.0 | 23.74% |
Objects of the Issue
Kids Clinic India Limited proposes to utilize the Net Proceeds from the Issue for –
1. Repayment and/ or pre-payment, in full or part, of certain borrowings availed by the company.
As of December 31, 2021, Cloudnine has total outstanding borrowings aggregating to Rs. 98.04 crores. A majority of the borrowings are from HDFC Bank and Axis Bank Limited.
The company proposes to utilize an estimated amount of Rs. 95 crores from the IPO money to repay/pre-pay the borrowings.
2. Setting up new centers at various locations for an estimated cost of Rs. 117.9 crores. Cloudnine proposes to set up seven centers in the Delhi-NCR region.
3. Acquisition of further shareholding in our Subsidiary, Acquity Labs at an estimated expense of Rs. 12.7 crores.
4. Rest of the amount the company intends to use for “General corporate purposes”.
Tentative Issue size
Rs. XX crores. (Will be updated later)
Kids Clinic India Limited Limited IPO Is Worth?
Kids Clinic is a leading specialized mother and baby care chain operating in a fast-growing market. It has a differentiated, comprehensive and customer-focused approach to the perinatal journey.
Cloudnine banks on clinical excellence and advanced medical technologies to deliver quality healthcare. It has an integrated digital ecosystem and proprietary technology stack for customers, doctors and staff. Additionally, it relies on its ability to attract, train and retain high-quality doctors and staff.
Kids Clinic has a scalable model and disciplined approach to growth backed by an experienced management team and marquee investors.
But they have losses in the last three financial years and a negative return on net worth.
