Rainbow Children’s Medicare IPO: The initial public offering, or IPO, of multi-specialty pediatric and obstetrics and gynecology hospital chain Rainbow Children’s Hospital Limited ended a few days back. The Rainbow Children’s Medicare IPO saw a subscription rate of 12.43 times the issue size, with institutional buyers being functional in the moderate response. The company had floated its Rs 1,581 crore IPO on April 27 and sold the shares at a price range of Rs 516-542 to bidders.
As of its last day of bidding, the Rainbow Children’s Medicare IPO saw an oversubscription of 12.43 times over its total issue size. The QIB portion was subscribed 38.9 times of the portion set aside for the category, while non-institutional investors bid for 3.73 times of the portion meant for them. The retail individual category saw an oversubscription of 1.38 times to the Rainbow Children’s IPO.
Rainbow Children’s Medicare IPO GMP Today
Unlisted shares of Rainbow Children’s Medicare Limited were fetching a premium of Rs 40 in the grey market, which is Rs 10 higher than that of two days ago, data from IPO Watch showed. The GMP or grey market premium indicates how an issue might perform at the bourses when listed. As per the data, Rainbow Children’s Medicare IPO GMP today is Rs 40, and has been over the issue price for several consecutive days.
As Rainbow Children’s Medicare IPO GMP today is Rs 40, it means the grey market is Rainbow Children’s Medicare IPO listing around Rs 582 ( Rs 542 + Rs 40), around 7.40 per cent higher from Rainbow Children IPO price band of Rs 516 to Rs 542 per equity share.
Rainbow Children’s Medicare IPO: What Analysts Say About Listing Gains
According to market analysts, Rainbow Children’s IPO are expected to have listing gains of about 5 to 10 per cent.
“Rainbow Children Medicare Limited IPO limited received a moderate response. The QIB quota, however, got a decent response. The allotment chances should be much higher for Retail Investors. The company has delivered steady numbers and valuations looks in-line with peers,” said Abhay Doshi, founder of UnlistedArena.com, a company dealing in pre-IPO and unlisted shares.
“The expected listing gains should be around 5-10 per cent. The expectations further have a room for an upside if market sentiments improves before its listing,” Doshi added.
Rainbow Children’s Medicare IPO: Company Details
Rainbow Children’s Hospital Ltd (RCHL) is a leading multi-specialty pediatric and obstetrics and gynecology hospital chain in India, operating 14 hospitals and three clinics in six cities, with a total bed capacity of 1,500 beds, as of December 31, 2021. The company established its first pediatric specialty hospital in 1999 in
Hyderabad, Telangana and it has expanded to 14 hospitals and 3 clinics in six cities.
On the financial front, the company’s revenue and EBITDA have grown at a CAGR of 9.5 per cent and 5 per cent between FY19-21, while PAT witnessed a decline of 5.8%. The company is trading at a P/E of 30.4x at the upper price band (annualized EPS of 17.9x FY22).
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