Rainbow Children’s Medicare IPO will open today i.e. April 27 and the public issue worth Rs 1,595 crore will remain open till April 29, 2022.
The company offers services such as pediatric multi-specialty services, obstetrics and gynecology, 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 fresh 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 garnered nearly Rs 470 crore from anchor investors ahead of its initial public offering (IPO).
The multi-specialty hospital management has fixed price band of its offer at Rs 516 to Rs 542 per share.
According to market observers, shares of Rainbow Children’s Medicare are available at a premium of Rs 50 in grey market today.
Observers said that rise in GMP can be taken as a good signal from the grey market as secondary market sentiment has been negative for last 2 sessions & today stock market has opened in red territory.
They said that there would sharp upside movement in Rainbow Children’s Medicare share price in grey market once there is trend reversal in secondary market.
In last few days, Rainbow Children’s Medicare IPO GMP had dipped from Rs 53 to Rs 35. So, today’s rise is expected to give relief to those who are planning to invest in the public issue.
Rainbow Children’s Medicare IPO GMP today is Rs 50, which means grey market is expecting Rainbow Children’s Medicare IPO to list around Rs 592 ( Rs 542 + Rs 50),
Which is around 9 per cent higher from its upper price band of Rs 542 per equity share.