Multi-speciality pediatric hospital chain Rainbow Children’s Medicare Ltd on Tuesday mentioned it has garnered practically Rs 470 crore from anchor traders forward of its preliminary public providing (IPO).
The firm has determined to allocate a complete of 8,663,404 fairness shares to anchor traders at Rs 542 apiece, taking the transaction dimension to Rs 469.55 crore, in keeping with a round uploaded on BSE web site.
Government of Singapore, Monetary Authority of Singapore, Amansa Holdings, Goldman Sachs (Singapore) Pte and IIFL Special Opportunities Fund are among the many anchor traders.
In addition, shares have been allotted to Bajaj Allianz Life Insurance Company, Max Life Insurance Company, HDFC Life Insurance Company, SBI Mutual Fund (MF), Axis MF, Nippon India MF, DSP MF, Aditya Birla Sun Life MF, UTI MF, HSBC MF and Motilal Oswal MF within the anchor spherical.
The public subject contains a contemporary subject of fairness shares aggregating as much as Rs 280 crore and a proposal sale (OFS) of as much as 2.4 crore fairness shares by promoters and traders.
Those promoting shares within the OFS are promoters — Ramesh Kancharla, Dinesh Kumar Chirla and Adarsh Kancharla, promoter group entity Padma Kancharla and traders — British International Investment plc (previously CDC Group plc) and CDC India.
The subject, with a value band of Rs 516-542 a share, can be open for public subscription throughout April 27-29. At the higher finish of the value band, the IPO is predicted to fetch Rs 1,581 crore.
The firm proposes to utilise the web proceeds from the contemporary subject for early redemption of non-convertible debentures (NCDs) issued by the corporate in full; capital expenditure in direction of establishing of latest hospitals and buy of medical gear; and common company functions.
Half of the difficulty dimension has been reserved for certified institutional consumers (QIBs), 35 per cent for retail traders and the remaining 15 per cent for non-institutional traders.
The provide additionally features a reservation of as much as 3 lakh shares for workers, who will obtain shares at a reduction of Rs 20 to the ultimate provide value.
Investors can bid for no less than 27 fairness shares and in multiples thereof.
Rainbow, backed by UK-based growth finance establishment CDC Group plc, established its first 50-bed pediatric speciality hospital in 1999 in Hyderabad.
Since then, it has established its fame as a pacesetter in multi-speciality pediatric companies, with sturdy scientific experience in managing complicated illnesses.
As of December 20, 2021, Rainbow operates 14 hospitals and three clinics in six cities in India, with a complete mattress capability of 1,500 beds.
Kotak Mahindra Capital Company, JP Morgan India and IIFL Securities are the e-book working lead managers to the difficulty. The fairness shares are proposed to be listed on BSE and NSE.
Source: www.financialexpress.com”