Krishna Institute of Medical Sciences Limited has announced a favorable resolution to an income tax assessment matter involving its subsidiary SPANV Medisearch Lifesciences Private Limited. The development marks the successful conclusion of an appeal process that began earlier in 2024.

Tax Assessment Resolution

SPANV Medisearch Lifesciences Private Limited, a subsidiary of Krishna Institute of Medical Sciences, has received a favorable order from the Income Tax Department regarding its assessment year 2022-2023. The department issued an order under Section 143(3) read with sections 250 and 144B of the Income-tax Act, which has set aside the previously issued demand notice.

Background of the Case

The subsidiary had initially received a demand notice under Section 156 of the IT Act for assessment year 2022-2023 from the Assessment unit of the Income Tax Department. Following this demand notice, the company had filed an appeal against the assessment under Part A of Chapter XX of the Income-tax Act, 1961, to the National Faceless Appeal Centre (NFAC). The original intimation regarding this matter was filed by the company on April 16, 2024.

Financial Impact

The resolution of this tax matter has resulted in zero financial impact on the subsidiary. The Income Tax Department's decision to set aside the demand notice means that no additional tax payment is required from SPANV Medisearch Lifesciences Private Limited for the disputed assessment year.

Regulatory Compliance

The disclosure has been made in accordance with Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Circular dated July 13, 2023. Krishna Institute of Medical Sciences received this information from its subsidiary on 31st March, 2026 at 3:43 PM and has promptly disclosed it to the stock exchanges and uploaded the details on the company's investor website.

Krishna Institute of Medical Sciences Limited has announced completion of postal ballot notice dispatch for a qualified institutions placement (QIP) to raise funds up to Rs 1500 crores. The company published newspaper advertisements on March 17, 2026, confirming the completion of notice dispatch to all eligible shareholders for the special resolution on equity share issuance.

Newspaper Advertisement and Regulatory Compliance

The company published the postal ballot notice in Financial Express (English) and Navatelangana (Telugu) newspapers pursuant to Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The advertisement confirms completion of notice dispatch through email to all shareholders who registered their email IDs as of the cut-off date.

The notice is accessible on the company's website at www.kimshospitals.com under the investors section, as well as on BSE and NSE websites for transparency and regulatory compliance.

Proposed QIP Structure and Compliance Framework

The special resolution seeks approval for issuing equity shares through QIP in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The proposed issuance maintains strict regulatory compliance:

• Allotment exclusively to Qualified Institutional Buyers (QIBs)
• Completion within 365 days from resolution approval
• Pricing not less than floor price per SEBI regulations, with maximum 5% discount permitted
• No single allottee to receive more than 50% of QIP size
• Minimum 10% allocation to mutual funds
• One-year lock-in period for allotted shares

Mr. Krishna Rao Inturi of IKR & Associates serves as the scrutinizer for the postal ballot process, with Link Intime India Private Limited providing e-voting services through their platform.

Fund Utilization and Strategic Objectives

The Board of Directors approved the fundraising proposal on March 11, 2026, with proceeds intended for multiple strategic purposes:

The resolution provides the Board with flexibility to determine the exact structure, timing, and pricing of the issuance in consultation with lead managers and advisors, considering prevailing market conditions.

Voting Process and Shareholder Services

Shareholders can access e-voting services through Link Intime India Private Limited's platform at instavote.linkintime.co.in. For grievances or queries, shareholders can contact enotices@linkintime.co.in or call +91 22 4918 6000. The company's compliance officer, Ms. Nagajayanthi J.R, is available at cs@kimshospitals.com for additional support.

Results will be announced by the Chairman & Managing Director within two working days from e-voting closure and communicated to BSE and NSE. The QIP will be conducted under SEBI-registered credit rating agency monitoring through quarterly reports until complete fund deployment.