Rainbow Children's Medicare IPO Subscribed 12.43 Times On Final Day
Get the latest subscription updates from day 3 of the Rainbow Children's Medicare IPO here.
The initial public offering of Rainbow Children's Medicare Ltd. subscribed more than 12 times on the third day, led by demand from institutional investors.
The issue was subscribed 55% by the end of the second day.
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 3
The IPO subscribed 12.43 times as of 5 p.m. on April 29.
Institutional investors: 38.90 times.
Non-institutional investors: 3.73 times.
Retail investors: 1.38 times.
Employees: 0.31 times.