New Delhi, Apr 29 (PTI) The Rs 1,581-crore initial public offer of Rainbow Children’s Medicare was subscribed 12.43 times on the last day of subscription on Friday.
It received bids for 25,49,03,787 shares against 2,05,14,617 shares on offer, according to data available with the NSE.
The category for Qualified Institutional Buyers (QIBs) got subscribed 38.90 times, while non institutional investors portion received 3.73 times subscription and Retail Individual Investors (RIIs) 1.38 times.
The offer, comprising fresh issue aggregating up to Rs 280 crore and an offer for sale of up to 2,40,00,900 equity shares, had a price range of Rs 516-542 apiece.
On Tuesday, the multi-speciality pediatric hospital chain said it garnered nearly Rs 470 crore from anchor investors.
The company proposes to utilise the net proceeds from the fresh issue for early redemption of non-convertible debentures in full, capital expenditure towards setting up of new hospitals and purchase of medical equipment, and general corporate purposes.
Rainbow Children’s Medicare, backed by UK-based development finance institution CDC Group plc, established its first 50-bed pediatric speciality hospital in 1999 in Hyderabad.
Kotak Mahindra Capital Company, J P Morgan India and IIFL Securities are the managers to the offer. PTI SUM SHW SHW
