New Delhi, June 16 -- Krishna Institute of Medical Sciences Ltd (KIMS) launched a qualified institutional placement (QIP) late on Tuesday to raise up to Rs.1,500 crore (around $158 million) through a primary issuance of shares, according to a term sheet and placement document reviewed by Mint.

The healthcare provider is offering up to 19.86 million new shares, representing 4.73% of its pre-issue outstanding capital. The indicative placement price is set at Rs.755 apiece, a 3.04% discount to the day's closing price of Rs.778.65 on the National Stock Exchange. The price also represents a 2.17% discount to the floor price of Rs.771.73 a share.

The company will allocate the proceeds for the repayment or prepayment of outstanding borrowings ...