Rainbow Children’s Medicare’s initial public offering (IPO) has hit the primary market today and will remain open for bidders till 29th May 2022. The price band of the IPO is fixed at ₹516 to ₹542 and is a ₹1595 crore public issue.
Rainbow Children’s Medicare Limited is a leading multi-speciality pediatric, obstetrics and gynaecology hospital chain in India that offers services such as newborn pediatric intensive care and pediatric multi-speciality.
As of December 31, 2021, it operated 14 hospitals and three clinics in 6 cities, with a total bed capacity of 1,500 beds, and had 641 full-time doctors and 1,947 part-time/visiting doctors.
According to market observers, the shares are available at a grey market premium of ₹15 today. Earlier, they were available at a premium of ₹50 per share. As of 10:15 AM, the issue has been subscribed 0.06 times. Out of this retail investors have subscribed 0.12 times.
Bidders will be able to apply in lots and each lot consists of 27 shares. The minimum number of lots that can be applied for is one and the maximum is thirteen.
Tentatively, the allotment of its shares will be announced on 5th May 2022 and they will get listed on 10th May 2022 on the NSE as well as the BSE.
KFin Technologies Limited is the official registrar of the public issue. Kotak Mahindra Capital Company, JP Morgan India and IIFL Securities are the book running lead managers.
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