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Rainbow Children’s Medicare IPO was subscribed 44 per cent so far on Thursday. Should you subscribe to Rainbow Children’s Medicare IPO? Know Here
Rainbow Children’s Medicare initial public offering (IPO) received muted response from the investors on the second day of bidding. The public issue was subscribed 44 per cent on Thursday. Rainbow Children’s Medicare IPO received bids for 49,58,95 shares against offer size of 2.05 crore shares. The retail investors bid for 70 per cent of their quota. Employee quota was subscribed 11 per cent of the reserved portion. The portion set aside for the qualified institutional buyers (QIBs) was booked 10 per cent while quota reserved for non-institutional investors 34 per cent.
Rainbow Children’s Medicare is a leading multi-specialty pediatric and obstetrics and gynecology hospital chain in India. Spread over six cities, the company operates 14 hospitals and three clinics. With its initial public offering, the group is planning to raise Rs 1,581 crore.
Rainbow Children’s Medicare IPO details
Rainbow Children’s Medicare IPO will be open for subscriptions till April 29. The IPO comprises a fresh issue of shares worth Rs 280 crore and an offer for sale of Rs 1,301 crore by promoters and investors. The price band has been fixed at Rs 516-542 per share.
Rainbow Children’s Medicare IPO: Anchor Investors
Rainbow IPO has already raised about Rs 470 crore from anchor investors ahead of the opening of the issue. As per BSE data, around 8,663,404 equity shares were allotted to the anchor investors at Rs 542 apiece aggregating to Rs 469.55 crore.
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