Rainbow Children’s Medicare IPO: The shares of multi-specialty pediatric and obstetrics and gynecology hospital chain Rainbow Children’s Hospital Limited will list on the bourses tomorrow, May 10. The Rainbow Children’s Medicare IPO was subscribed 12.43 times on the last day of subscription, as the company looks to garner Rs 1,581 through its initial stake sale. The Rainbow Children’s Medicare IPO saw a moderate subscription rate of 12.43 times the issue size, with qualified institutional buyers backing the response.
Rainbow Children’s IPO Subscription
The company had floated its Rs 1,581 crore IPO on April 27 and sold the shares at a price range of Rs 516-542 to bidders. The total issue saw a subscription rate of 12.43 per cent, as the QIB portion was subscribed 38.9 times of the same set aside for the category. Non-institutional investors bid for 3.73 times of the portion meant for them. The retail individual category saw an oversubscription of 1.38 times to the Rainbow Children’s IPO,
Rainbow Children’s Medicare IPO GMP Today
As per IPO Watch, the unlisted shares of Rainbow Children’s Medicare IPO were giving out a premium of Rs 15. Rainbow Children’s Medicare IPO GMP today is Rs 15, and has been over the issue price for several consecutive days. However, it is down by Rs 5 from yesterday’s GMP. The GMP or gray market premium indicates how an issue might perform at the bourses when listed.
Since Rainbow Children’s Medicare IPO GMP today is Rs 15 it means the gray market is Rainbow Children’s Medicare IPO listing around Rs 557 ( Rs 542 + Rs 15), around 3 per cent higher from Rainbow Children IPO price band of Rs 516 to Rs 542 per equity share.
Rainbow Children’s Medicare IPO: What Analysts Say About Listing Gains
“Rainbow Children’s Medicare reported a net profit of Rs 39.59 crore in financial 2020-21, a 28 per cent drop compared to its bottom line of Rs 55.34 crore in the previous year. However, for the nine months ended December 31, the company reported a net profit of Rs 126.41 crore with total revenue of Rs 774.06 crore,” said Ravi Singh, vice president and head of research at ShareIndia.
“Rainbow Children Medicare Limited IPO limited received a moderate response. The QIB quota, however, got a decent response. The allotment chances should be much higher for Retail Investors. The company has delivered steady numbers and valuations looks in-line with peers,” said Abhay Doshi, founder of UnlistedArena.com, a company dealing in pre-IPO and unlisted shares.
“The expected listing gains should be around 5-10 per cent. The expectations further have a room for an upside if market sentiments improves before its listing,” Doshi added.
Rainbow Children’s Medicare IPO Listing Date
Rainbow Children’s Medicare IPO will list on both NSE and BSE on Tuesday, May 10. Those who have won the bids for Rainbow Children’s Medicare IPO share allotment will get their credit to demat accounts today.
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