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Today Date : Friday, April 12, 2024

Rainbow Children’s  Medicare Limited IPO  offer opening announced

Rainbow Children’s Medicare Limited IPO offer opening announced

The initial public offer of Rainbow Children’s Medicare Limited, a leading multi-specialty pediatric and obstetrics and gynaecology hospital chain in India, opens on Wednesday, April 27, 2022. The price band of the offer has been fixed from Rs. 516 to Rs. 542 per equity share of face value of Rs. 10 each. Bids can be made for a minimum of 27 Equity Shares and in multiples of 27 Equity Shares thereafter.

The IPO comprises of fresh issue aggregating up to Rs. 280 Crore and offer for sale up to 24,000,900 equity shares by Promoter Selling Shareholders, Investor Selling Shareholders and other Selling Shareholder. The offer also includes Employee Reservation Portion of up to 300,000 equity Shares.

company proposes to utilise the net proceeds from fresh issue towards, early redemption of NCDs issued by the Company to CDC Emerging Markets Limited, one of its Group Companies, in full amounting to Rs. 40 Crore; Capital expenditure towards setting up of new hospitals and purchase of medical equipment for such new hospitals, amounting to Rs. 170 Crore; and rest towards General Corporate Purposes. Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited and IIFL Securities Limited are the Book Running Lead Managers.