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Rainbow Children’s Medicare’s IPO will open on April 27, 2022

by Chandler
April 24, 2022
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Rs. With a face value of 10, the price band per equity share is Rs. 516 to Rs. 542 decided – IPO will close on April 29, 2022

Rainbow: Children’s Medicare Limited is India’s leading multi-specialty pediatric and obstetrics and gynecology hospital chain, operating 14 hospitals and three clinics in six cities (Hyderabad, Bangalore, Chennai, New Delhi, Vijayawada and Visakhapatnam).

Its total bed capacity is 1,500 beds as on December 31, 2021. The company’s IPO (Initial Public Offering) will open on Wednesday, April 27, 2022. Rainbow Children’s Medicare a leading multi-specialty pediatrics-obstetrics and gynecology hospital chain in India has fixed the price band of its IPO of equity shares between Rs. 516 and Rs. 542 per share

The price band of the offer is Rs. Equity with a face value of Rs. 516 to Rs. 542 is determined. Bids can be made in multiples of a minimum of 27 equity shares and then 27 equity shares.

In the IPO, Rs. Up to 280 crore fresh issue and sale of 24,000,900 equity shares by promoter seller shareholders, investors seller shareholders and other seller shareholders. The offer also includes an employee reservation portion of up to 300,000 equity shares.

The company utilizes the funds raised from the fresh issue for early redemption of NCDs issued by the company to CDC Emerging Markets Limited, a group company of Rs. 40 crore, capital expenditure for setting up new hospitals and purchase of medical equipment for such new hospitals at a cost of Rs. 170 crore and the rest of the funds are planned to be used for general corporate purposes.

As of March 31, 2021, Rainbow Children’s Medicare had the highest number of hospital beds among competing companies in the maternity and pediatric healthcare delivery sector, according to Crisil.

Founder Promoter Dr. Under the leadership of Ramesh Kancharla, Rainbow has established its reputation as a leader in multi-specialty pediatric services with good clinical expertise in treating complex diseases. It has also expanded operations to include obstetrics and gynecology services, in which those patients provide extended treatment before and after childbirth. Five Rainbow hospitals are NABH accredited and three are EDGE certified.

Rainbow follows a doctor-to-doctor model, with most of its core specialists working exclusively in the hospital on a full-time retainer basis. This model ensures that most of its specialists are available in the hospital 24/7 on a roster basis.

This is especially important for pediatric emergency, neonatal and pediatric intensive care services. As of December 31, 2021, Rainbow had 641 full-time doctors and 1,947 part-time / visiting doctors. Rainbow’s model of fulltime doctors with a strong middle grade number of doctors ensures consistent healthcare in all hospitals, resulting in satisfactory treatment for patients.

The book-running lead managers of the offer are Kotak Mahindra Capital Company Limited, JP Morgan India Pvt Ltd and IIFL Securities Limited.

.Source

Tags: AprilChildrensIPOMedicaresopenRainbow
Chandler

Chandler

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