Rainbow Children's Medicare IPO Subscribed 0.55 Times On Day 2
Get the latest subscription updates from day 2 of the Rainbow Children's Medicare IPO here.
The initial public offering of Rainbow Children's Medicare Ltd. continued to witness muted investor demand on the second day as well.
The issue was subscribed 29% on the first day, led by retail investors.
The Hyderabad-based hospital chain seeks to raise Rs 1,580.8 crore, including a fresh issue worth Rs 280 crore, at Rs 516-542 apiece.
Rainbow will offer 28.74% of the post-issue equity in the IPO. The promoters will own 49.80% after the sale.
The company has also raised Rs 470 crore from anchor investors ahead of the IPO.
With the proceeds, the company plans a capex of Rs 244 crore over the next three years to set up six new hospitals. It also plans to use Rs 40 crore to redeem non-convertible debentures issued to investor CDC Group.
Subscription Details: Day 2
The IPO subscribed 0.55 times as of 5 p.m. on April 28.
Institutional investors: 0.10 times.
Non-institutional investors: 0.56 times.
Retail investors: 0.82 times.
Employees: 0.14 times.