Rainbow Childrens IPO: Check latest GMP, subscription status, expected listing price

Rainbow Childrens is planning to raise about Rs 1,581 crore with the IPO. Interested investors can check Rainbow Childrens IPO's latest GMP and expected listing price.

New Delhi: Rainbow Childrens Medicare Limited’s initial public offering was subscribed 55 per cent on the second day of offer on Thursday, April 28, 2022. The multi-speciality pediatric hospital chain has raised nearly Rs 470 crore from anchor investors. Bidders can now check Rainbow Childrens IPO's latest GMP and expected listing price. 

Rainbow Childrens is planning to raise about Rs 1,581 crore with the IPO. The offer comprises fresh issue aggregating up to Rs 280 crore and an offer for the sale of up to 2,40,00,900 equity shares. The Rainbow Childrens IPO has a price range of Rs 516-542 apiece. Kotak Mahindra Capital Company, J P Morgan India and IIFL Securities are the managers of the offer. 

Rainbow Childrens plans to use the net proceeds from the fresh issue for early redemption of non-convertible debentures in full, capital expenditure towards setting up of new hospitals and purchase of medical equipment, and general corporate purposes, according to a PTI report.

Rainbow Childrens Medicare had established its first 50-bed pediatric speciality hospital in 1999 in Hyderabad. The company is backed by UK-based development finance institution CDC Group plc. 

Rainbow Childrens IPO Subscription Status

Rainbow Childrens IPO received bids for 1,12,62,753 shares against 2,05,14,617 shares on offer, according to the official NSE data. Here’s the complete break up of Rainbow Childrens IPO subscription status: 

• Retail Individual Investors Quota: 82 per cent subscribed 
• Non Institutional Investors Quota: 56 per cent subscribed 
• Qualified Institutional Buyers Quota: 10 per cent subscribed 

Rainbow Childrens IPO GMP

Rainbow Childrens IPO’s grey market premium or GMP is Rs 30, according to media reports. Also Read: Axis Bank Q4 net profit jumps 54% to Rs 4,117.8 crore

Rainbow Childrens IPO Expected Listing Price 

Rainbow Childrens IPO shares are expected to list at Rs 572, according to the latest GMP trends. The trends, however, could change in the coming days depending on the response from market investors. Also Read: LIC IPO: 6.48 crore policyholders keen to buy shares -- Check price band, discount