Rainbow Children’s Medicare Limited’s three-day initial public offering (IPO) was open for subscription on April 27 and ended on April 29.
IPOContains latest issue aggregated 280 crore and the price range of the offer for sale of 2,40,00,900 equity shares. is 516-542 each. Prior to its initial share sale, the multi-specialty pediatric hospital chain said it had approximately 470 crores from anchor investors.
As per market observers, Rainbow Children Medicare is available at a premium of share (GMP) 27 in the gray market today. The equity shares of the company are expected to be listed on the major stock exchanges BSE and NSE on Tuesday, 10th May, 2022.
Finalization of the share allotment basis for Rainbow Children Medicare IPO is expected this week on Thursday, May 5, 2022 and if allotted, the shares will be credited to the demat account of the bidders on May 9. This IPO is Keffin Technologies Limited, so the allotment application can be checked on its website Here or on BSE website Here,
The company proposes to use the net proceeds from the new issue for full redemption of non-convertible debentures, setting up of new hospitals and purchase of medical equipment, and capital expenditure for general corporate purposes.
Rainbow Children’s Medicare, backed by UK-based development finance institution CDC Group plc, established its first 50-bed pediatric specialty hospital in Hyderabad in 1999.
As of December 20, 2021, Rainbow operates 14 hospitals and three clinics with a total bed capacity of 1,500 beds across six cities in India. Kotak Mahindra Capital Company, JP Morgan India and IIFL Securities is the Book Running Lead Manager of the issue.