Rainbow Children’s Medicare’s Rs 1,580.80 crore IPO, which opens 27 April, has set the value band at Rs Rs 516-542 per share of face worth of Rs 10 every. The subscription for anchor traders will open in the future previous to IPO opening date. The public subject will shut for subscription on 29 April. Rainbow Children’s Medicare is more likely to listing on inventory exchanges on 10 May 2022.
In the gray market on Friday, Rainbow Children’s Medicare shares had been seen buying and selling at Rs 597 per share, up Rs 55 or 10 per cent, towards the higher band of IPO worth, in response to the individuals who deal in unlisted shares of the businesses. Up to half the online provide has been reserved for certified institutional traders (QIBs), 15 per cent for non-institutional traders (NIIs), and the remaining 35 per cent for retail bidders. A reduction of Rs 20 per fairness share has additionally been provided to eligible workers bidding within the worker reservation portion.
Investors could make a bid for no less than 27 shares and in multiples of 27 thereafter. This implies that retail traders can make investments a minimal of Rs 14,634 for a single lot and most Rs 1,90,242 for 13 tons. The firm will finalise the premise of allotment on 5 May, and initiation of refunds or unblocking of funds from ASBA account will happen on 6 May. The fairness shares will get credited to depository accounts of allottees on 9 May.
Upon profitable itemizing of Rainbow Children’s Medicare shares, the corporate will be part of the likes of Max Healthcare Institute, Krishna Institute of Medical Sciences, Apollo Hospitals Enterprise, Narayana Hrudayalaya, and Fortis Healthcare. The firm is considerably depending on sure specialities for a majority of its revenues. It has 4 core specialities, particularly secondary pediatric care, tertiary pediatric care, quaternary pediatric care and girls care (gynecology, obstetrics, and associated companies.
Source: www.financialexpress.com”