{"id":37495,"date":"2022-04-22T12:00:40","date_gmt":"2022-04-22T06:30:40","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-ipo-rainbow-price-band\/"},"modified":"2022-04-22T12:14:10","modified_gmt":"2022-04-22T06:44:10","slug":"biz-ipo-rainbow-price-band","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-ipo-rainbow-price-band\/","title":{"rendered":"Rainbow Children&#8217;s Medicare sets IPO price band at Rs 516-542 per share"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1051858935\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Multi-speciality pediatric hospital chain Rainbow Children&#8217;s Medicare Ltd on Friday said it has fixed a price band of Rs 516-542 a share for its Rs\u00a0 1,581-crore initial public offering (IPO).<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1096643638\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>The-three day initial share sale will be open for public subscription during April 27-29, and the bidding for anchor investors will open on April 26, according to the company.<\/p>\n<p>The public issue comprises a fresh issue of equity shares aggregating up to Rs 280 crore and an offer sale (OFS) of up to 2.4 crore equity shares by promoters and investors.<\/p>\n<p>Those selling shares in the OFS are promoters &#8212; Ramesh Kancharla, Dinesh Kumar Chirla and Adarsh Kancharla, promoter group entity Padma Kancharla and investors &#8212; British International Investment plc (formerly known as CDC Group plc) and CDC India.\u00a0 The company proposes to utilise the net proceeds from the fresh issue for early redemption of non-convertible debentures (NCDs) issued by the company in full; capital expenditure towards setting up of new hospitals and purchase of medical equipment for such new hospitals; and general corporate purposes.<\/p><div class=\"trade-content_5\" id=\"trade-2198741727\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>At the upper end of the price band, the public issue is expected to fetch Rs 1,581 crore.<\/p>\n<p>Half of the issue size has been reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.\u00a0 The offer also includes a reservation of up to 3 lakh shares for employees, who will receive shares at a discount of Rs 20 to the final offer price.<\/p>\n<p>Investors can bid for a minimum of 27 equity shares and in multiples thereof.<\/p>\n<p>Rainbow, backed by UK-based development finance institution CDC Group plc, established its first 50-bed pediatric speciality hospital in 1999 in Hyderabad. Since then, it has established its reputation as a leader in multi-speciality pediatric services, with strong clinical expertise in managing complex diseases.<\/p>\n<p>As of December 20, 2021, Rainbow operates 14 hospitals and three clinics in six cities in India, with a total bed capacity of 1,500 beds.\u00a0 Its core specialities are paediatrics, which includes newborn and pediatric intensive care, pediatric multi-speciality services, pediatric quaternary care (including multi-organ transplants); and obstetrics and gynaecology, which includes normal and complex obstetric care, multi-disciplinary fetal care, perinatal genetic and fertility care.\u00a0 Kotak Mahindra Capital Company, JP Morgan India and IIFL Securities are the book running lead managers to the issue.<\/p>\n<p>The equity shares are proposed to be listed on BSE and NSE. PTI SP BAL BAL<\/p><div class=\"trade-content-10\" id=\"trade-2186773043\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<div class=\"trade-after-content\" id=\"trade-3388802315\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Multi-speciality pediatric hospital chain Rainbow Children&#8217;s Medicare Ltd on Friday said it has fixed a price band of Rs 516-542 a share for its Rs\u00a0 1,581-crore initial public offering (IPO). The-three day initial share sale will be open for public subscription during April 27-29, and the bidding for anchor investors will open on April 26, [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":37504,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1516,31,1789],"tags":[],"class_list":["post-37495","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo","category-news","category-trending-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Rainbow Children&#039;s Medicare sets IPO price band at Rs 516-542 per share - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-ipo-rainbow-price-band\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rainbow Children&#039;s Medicare sets IPO price band at Rs 516-542 per share\" \/>\n<meta property=\"og:description\" content=\"Multi-speciality pediatric hospital chain Rainbow Children&#8217;s Medicare Ltd on Friday said it has fixed a price band of Rs 516-542 a share for its Rs\u00a0 1,581-crore initial public offering (IPO). 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