5:1 Stock Split, 1st Ever Ahead: Midcap Hospital Stock In Focus, Board Meet On June 28 To Discuss Sub-Division

Hospitals chain company, Krishna Institute of Medical Sciences has announced on June 24 that a board meeting will be held to consider a stock split in the ratio of 5:1. The midcap stock is currently a little over Rs 2,052 apiece levels.

On BSE, after market hours of June 24, Krishna Institute's share price ended at Rs 2052.05 apiece, marginally down with a market cap of Rs 16,422.10 crore.

The stock's 52-week high and low is at Rs 2,357 apiece and Rs 1,625.05 apiece. YTD, the stock is up by 5% on BSE.

But in the long-term, Krishna Institute emerged as a multi-bagger with all-time gains of nearly 102% on BSE.

This comes after the company announced that a meeting of the Board of Directors of the Company is scheduled to be held on Friday, June 28th, 2024 to consider the following items:

- Sub-division/split of existing 1 (One) Equity Share of the face value of Rs. 10/- (Rupees Ten Only) each fully paid up into 5 (Five) Equity Shares of the face value of Rs. 2/- (Rupees Two Only) each fully paid-up.

- Reclassification of the following persons from the 'Promoter Group' Category to the
'Public' Category.

This will be the first ever stock split by Krishna Institute.

Share splits mean that listed companies can split their existing shares into a ratio decided by them for a host of reasons. These could be done to improve liquidity, lessen the value of the stock, make it cheaper or simply attract new buying from both existing and new investors.

Earlier this month, the company announced that it executed an agreement to invest Rs.1,02,00,000 by subscribing 10,20,000 Equity Shares of Face Value of Rs. 10/- each of Meda Institute of Podiatry.

Meda Institute of Podiatry is a recently incorporated Company by Dr. Meda. He has over 12 years of experience in vascular surgery, a field that he is passionate about and dedicated to. He holds a prestigious DNB in Vascular and Endovascular Surgery from Narayana Hrudyalaya Hospital, Bangalore, and acquired multiple certifications and fellowships in vascular surgery from renowned institutions.

Krishna Institute of Medical Sciences through its investment in Meda Institute of Podiatry aims to set up and expand small Podiatric hospital clusters to ensure that the infrastructure meets the specific needs of podiatric care, in Hyderabad, India. A 9-bed hospital will be built in the first phase with a scope to expand up to 20 beds as per requirement in a 14000 sq. ft. space.

The acquisition is expected to be completed within 1 month.

KIMS was established 35 years ago. The college enjoys an enviable reputation among Indian medical schools. Adaption to new technologies, innovative teaching methods, dedicated community service and an experienced faculty have contributed to its long tradition of excellence.