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Rainbow Children’s Medicare makes a muted debut, lists at discount 

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The company has fixed the price band at ₹516 to ₹542

Multi-speciality pediatric and obstetrics and gynaecology hospital chain Rainbow Children’s Medicare made a muted debut on the bourses on Tuesday, listing at a discount.

Rainbow Children’s Medicare listed at ₹506 on the BSE, down ₹36.00 or 6.64 per cent from its issue price of ₹542.

On the NSE, if listed at ₹510.00, down ₹32.00 or 5.90 per cent from its IPO price.

The company has fixed the price band at ₹516 to ₹542. 

The issue had been subscribed 12.43 times. The IPO received bids for 25.49 crore shares against the issue size of 2.05 crore shares.

The portion reserved for Qualified Institutions Investors was subscribed 38.90 times while that for Non-Institutional Buyers was subscribed 3.73 times. It received a muted response from retail investors with the portion reserved for retail investors being subscribed 1.38 times. The portion reserved for employees was subscribed 0.31 times.

Ahead of the IPO, the company had alloted shares worth ₹470 crore to anchor investors. Over 8.66 million shares were alloted to anchor investors at ₹542 per share.

Published on May 10, 2022

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