Rainbow Children’s Medicare IPO: Rainbow Children’s Medicare IPO will open today i.e. April 27 and the public issue worth Rs 1,595 crore will remain open until April 29, 2022. The company provides services such as pediatric multi-specialty services, obstetrics and gynaecology, newborn and pediatric intensive care, and pediatric quaternary care. The IPO has an issue size of Rs 1,580 crore. Out of the total, the IPO has a new issue of Rs 280 crore. The IPO has an offer for sale of Rs 1,300.85 crore. The multi-specialty pediatric hospital chain has amassed nearly Rs 470 crore from anchor investors ahead of its initial public offering (IPO).
Rainbow Children’s Medicare IPO: Price Band
The management of the multi-specialized hospital has a fixed price range of its offering from Rs 516 to Rs 542 per share.
Rainbow Children’s Medicare IPO: GMP
According to market observers, Rainbow Children’s Medicare shares are available today at a premium of Rs 50 in the gray market. Observers said a rise in the GMP could be taken as a good signal from the gray market, as secondary market sentiment has been negative for the past two sessions and the stock market opened in red territory today. They said there would be a sharp upward move in the price of Rainbow Children’s Medicare stock in the gray market once there is a trend reversal in the secondary market. In recent days, Rainbow Children’s Medicare IPO GMP had fallen from Rs 53 to Rs 35. So today’s increase is expected to provide relief to those who intend to invest in the public issue. Rainbow Children’s Medicare IPO GMP today is Rs 50 meaning the gray market expects Rainbow Children’s Medicare IPO to quote at around Rs 592 (Rs 542 + Rs 50), which is about 9 percent higher than the top price range of Rs 542 per own share power.
Rainbow Children’s Medicare IPO: Subscription, Assignment, and Listing Dates
-Rainbow Children’s Medicare IPO Subscription Date: The public issue will open April 27, 2022 and will remain open to bidders until April 29, 2022.
– Rainbow Children’s Medicare IPO Allocation Date: The tentative date for the stock allocation announcement is May 5, 2022.
– Rainbow Children’s Medicare IPO Listing: The likely date for Rainbow Children’s Medicare stock listing is May 10, 2022.
Rainbow Children’s Medicare IPO: How To Enroll?
Bidders can log into their broker’s website or app (where they have their Demat account), select Rainbow Children’s Medicare IPO, enter their UPI ID, and select the type of investor. The quantity must be a multiple of the batch size. If you would like to apply at the cut-off price, just click the checkbox next to ‘Cut-off price’. You will receive a text message from the NPCI confirming your bid and asking you to accept the mandate on your UPI app.
Rainbow Children’s Hospital IPO: Should You Invest?
Santosh Meena, Head of Research, Swastika Investmart, said the company followed a financially disciplined model focused on cost-effective growth. In the future, they may seek to expand their hospital network through acquisition of Brownfield assets or development of Greenfield assets.
“We believe that this exponential increase in earnings may not continue in the future. However, the specialized nature of the company, experienced management team and proven ability to attract, train and retain highly qualified medical professionals, with insufficient penetration of hospitals in India, make this issue a good fit for long-term investors.”
Reliance Securities said in its IPO note: “Year-over-year of FY22, the IPO is valued at 15.8x EV/EBITDA, 5.3x EV/sales and 33x P/E, which is broadly comparable to peers. Rainbow has the equity to conceive, create and operate specialized children’s hospitals and is an important factor in pediatric health care.It has the strong clinical expertise to manage complex diseases and with its hub-and-spoke model offers synergies and provides better care and access In addition, with a strong financial track record and an experienced management team, the company is well positioned in the segment, in view of its specialty portfolio, hospital expansion, improving financials, likely improvement in margins and the valuation comfort compared to comparable companies, we recommend subscribing a rating before the issuance.”
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