Rainbow Children’s Medicare IPO to start from April 27
IPO of Rainbow Children’s Medicare, a multi-speciality paediatric, obstetrics and gynaecology hospital chain, will run from April 27 to 29. The firm intends to assign shares on 5 May and list on 10 May.
The IPO involves a new issue of ₹ 280 crore and an offer for sale of up to 24 million shares by shareholders and promoters.
The offer includes a reservation of up to three lakh equity shares for the company’s employees.
The proceeds from the new issue will be utilised for early redemption of non convertible debentures and capital expenditure on setting up new hospitals and purchase of medical equipment for them, besides general corporate purposes.
Promoters Ramesh Kancharla, Dinesh Kumar Chirla and Adarsh Kancharla will sell shares. Investors CDC Group and CDC India will also offload shares.
Rainbow Children’s Medicare operates 14 hospitals and three clinics in six cities, with a total bed capacity of 1,500 as of September 2021. It had the biggest number of hospital beds among comparable players in the maternity and paediatric healthcare delivery sector as of March 2021.
The book running lead managers to the issue are Kotak Mahindra Capital Company, JP Morgan India, and IIFL Securities.
About Rainbow Children’s Medicare
Their Pediatricians are highly qualified, knowledgeable and amongst the finest available in the country who work dedicatedly towards enhancing, sustaining and restoring children’s health and development.
Since they have undergone special training to work with infants, children and adolescents and understand the importance of listening carefully to you and your child, they are well equipped to help you with the questions that you may have about your child’s development, health and parenting and can guide you in anticipating your child’s needs.
Rainbow Children’s Hospitals Group is a 1000+ bed comprehensive Pediatrics and Maternal healthcare hospital group that offers the best care available in modern pediatric and maternal medicine. With state-of-the-art facilities, it’s spread over 11 locations and still expanding. Their Outpatient clinics schedule more than 6L+ visits annually.
The hospital’s clinical staff include a strong team of highly qualified and experienced consultants, dynamic team of residents and fellows, well trained nurses and paramedical personnel, and highly motivated team of full – and part-time employees.
Source: Money Control
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