Rainbow Children’s Medicare IPO: Shares of Rainbow Children’s Hospital Limited, a multi-specialty pediatric, obstetric and gynecology hospital chain, will be listed on the stock exchanges tomorrow, May 10. 1,581 by the first sale of the share. Rainbow Children’s Medicare’s IPO saw a moderate subscription rate at 12.43 times the issue size, with qualified institutional buyers backing the response.
Rainbow Kids IPO Subscription
The company had released its IPO of Rs 1,581 crore on April 27 and sold the shares to bidders at a price range of Rs 516-542. The total issuance had a subscription rate of 12.43 percent, as the QIB portion was subscribed 38.9 times of the same reserved amount for the category. Non-institutional investors offer 3.73 times their share. The individual retail category saw a 1.38 oversubscription at the Rainbow Children’s IPO.
Rainbow Children’s Medicare IPO GMP Today
According to IPO Watch, the unlisted shares of Rainbow Children’s Medicare IPO gave a premium of Rs 15. Rainbow Children’s Medicare IPO GMP today is Rs 15 and has been above the issue price for several consecutive days. However, it is Rs 5 lower than yesterday’s GMP. The GMP or gray market premium indicates how an issue could perform on the exchanges if listed.
Since Rainbow Children’s Medicare IPO GMP is today Rs 15, it means that the gray market Rainbow Children’s Medicare IPO listing is around Rs 557 (Rs 542 + Rs 15), about 3 percent higher than Rainbow Children’s IPO price band of Rs 516 up to Rs 542 per share.
Rainbow Children’s Medicare IPO: What Analysts Are Saying About Gains on the List
“Rainbow Children’s Medicare reported a net profit of Rs 39.59 crore in the 2020-21 financial period, down 28 percent compared to its result of Rs 55.34 crore in the previous year. However, for the nine months ended December 31, the company reported net profit of Rs 126.41 crore with total revenue of Rs 774.06 crore,” said Ravi Singh, vice president and head of research at ShareIndia.
“Rainbow Children Medicare Limited IPO limited received a moderate response. However, the QIB quota received a decent response. The allotment opportunities should be much higher for Retail Investors. The company has delivered stable numbers and valuations appear in line with competitors,” said Abhay Doshi, founder of UnlistedArena.com, a company that trades pre-IPO and privately held stocks.
“The expected profit on the stock market should be around 5-10 percent. Expectations have further room for an upward trend if market sentiment improves before it goes to market,” added Doshi.
Rainbow Children’s Medicare I IPO Listing Date
Rainbow Children’s Medicare IPO will be listed on both NSE and BSE on Tuesday, May 10. Those who won the Rainbow Children’s Medicare IPO share allocation bids will get their credit in demat accounts today.
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