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Rainbow Children’s Medicare Limited IPO – Details

On 24 December 2021, Rainbow Children’s Medicare Limited filed a DRHP with SEBI to sell its shares in the market. The issue consists of an offer for sale (OFS) of 2.4 crore shares and a fresh issue of Rs. 280 crores shares. The offer size is likely to be over Rs. 1,595.59 crores.

Through the offer for sale, CDC India, British International Investment PLC, Padma Kancharla, Adarsh Kancharla, Dinesh Kumar Chirla and Ramesh Kancharla will offload their shares. Eligible employees qualify for a reservation of 3 lakhs shares against this issue.

Further, qualified institutional investors can enjoy a reservation of half of the entire offer. However, the reservations for retail bidders and non-institutional investors are 35% and 15%, respectively.

The lead managers of this initial public offering of Rainbow Children’s Medicare Limited are IIFL Securities, JP Morgan India and Kotak Mahindra Capital Company. Refer to the following chart for further details:

Issue Type

Book Built

Listing at

BSE & NSE

Price Band

Rs. 516 - Rs. 542

per equity share

Minimum Order Quantity

27 shares

Face Value

₹10

per equity share

Market Lot

27 shares

Issue Type

Book Built

Listing at

BSE & NSE

Price Band

Rs. 516 - Rs. 542

per equity share

Minimum Order Quantity

27 shares

Face Value

₹10

per equity share

Market Lot

27 shares

Listing at NSE, BSE

Rainbow Children’s Medicare Limited IPO Important Dates

IPO Open Date 27 April 2022
IPO Close Date 29 April 2022
Basis of Allotment Publication Date 5 May 2022
Initiation Of Refunds 6 May 2022
Credit Of Shares To
Demat Account
9 May 2022
Minimum Order Quantity To be updated

View all upcoming IPOs

Rainbow Children IPO Latest News and Subscription Status Today [Live]

At 11:00:00 AM.

- This IPO has been subscribed 0.91x by 11:00 AM. on Day 3

- It is a public issue of 19,13,247 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.10x

- (NII) Non-institutional buyers: 0.73x

- (RII) Retail Individual buyers: 0.90x

- Employees: 0.16x

 

At 12:15:00 PM.

- This IPO has been subscribed 1.38x by 12:15 PM. on Day 3

- It is a public issue of 19,13,247 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 2.46x

- (NII) Non-institutional buyers: 0.94x

- (RII) Retail Individual buyers: 0.99x

- Employees: 0.19x

 

At 01:00:00 PM.

- This IPO has been subscribed 1.61x by 01:00 PM. on Day 3

- It is a public issue of 19,13,247 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 3.08x

- (NII) Non-institutional buyers: 1.13x

- (RII) Retail Individual buyers: 1.02x

- Employees: 0.19x

 

At 02:10:00 PM.

- This IPO has been subscribed 3.59x by 02:10 PM. on Day 3

- It is a public issue of 19,13,247 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 9.48x

- (NII) Non-institutional buyers: 1.74x

- (RII) Retail Individual buyers: 1.13x

- Employees: 0.21x

 

At 03:15:00 PM.

- This IPO has been subscribed 8.97x by 03:15 PM. on Day 3

- It is a public issue of 19,13,247 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 27.38x

- (NII) Non-institutional buyers: 2.97x

- (RII) Retail Individual buyers: 1.27x

- Employees: 0.24x

 

At 04:10:00 PM.

- This IPO has been subscribed 12.39x by 04:10 PM. on Day 3

- It is a public issue of 19,13,247 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 38.90x

- (NII) Non-institutional buyers: 3.73x

- (RII) Retail Individual buyers: 1.32x

- Employees: 0.25x

 

At 05:15:00 PM.

- This IPO has been subscribed 12.43x by 05:15 PM. on Day 3

- It is a public issue of 19,13,247 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 38.90x

- (NII) Non-institutional buyers: 3.73x

- (RII) Retail Individual buyers: 1.38x

- Employees: 0.31x

At 12:00:00 PM.

- This IPO has been subscribed 0.38x by 12:00 PM. on Day 2

- It is a public issue of 19,13,247 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.10x

- (NII) Non-institutional buyers: 0.24x

- (RII) Retail Individual buyers: 0.62x

- Employees: 0.09x

 

At 12:55:00 PM.

- This IPO has been subscribed 0.40x by 12:55 PM. on Day 2

- It is a public issue of 19,13,247 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.10x

- (NII) Non-institutional buyers: 0.26x

- (RII) Retail Individual buyers: 0.64x

- Employees: 0.10x

 

At 02:00:00 PM.

- This IPO has been subscribed 0.42x by 02:00 PM. on Day 2

- It is a public issue of 19,13,247 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.10x

- (NII) Non-institutional buyers: 0.30x

- (RII) Retail Individual buyers: 0.67x

- Employees: 0.10x

 

At 02:50:00 PM.

- This IPO has been subscribed 0.44x by 02:50 PM. on Day 2

- It is a public issue of 19,13,247 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.10x

- (NII) Non-institutional buyers: 0.34x

- (RII) Retail Individual buyers: 0.70x

- Employees: 0.11x

 

At 03:40:00 PM.

- This IPO has been subscribed 0.46x by 03:40 PM. on Day 2

- It is a public issue of 19,13,247 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.10x

- (NII) Non-institutional buyers: 0.36x

- (RII) Retail Individual buyers: 0.72x

- Employees: 0.12x

 

At 04:40:00 PM.

- This IPO has been subscribed 0.53x by 04:40 PM. on Day 2

- It is a public issue of 19,13,247 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.10x

- (NII) Non-institutional buyers: 0.52x

- (RII) Retail Individual buyers: 0.80x

- Employees: 0.14x

 

At 05:15:00 PM.

- This IPO has been subscribed 0.55x by 05:15 PM. on Day 2

- It is a public issue of 19,13,247 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.10x

- (NII) Non-institutional buyers: 0.56x

- (RII) Retail Individual buyers: 0.82x

- Employees: 0.14x

At 10:40:00 AM.

- This IPO has been subscribed 0.09x by 10:40 AM. on Day 1

- It is a public issue of 19,13,247 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x

- (NII) Non-institutional buyers: 0.00x

- (RII) Retail Individual buyers: 0.19x

- Employees: 0.01x

 

At 11:35:00 AM.

- This IPO has been subscribed 0.13x by 11:35 AM. on Day 1

- It is a public issue of 19,13,247 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x

- (NII) Non-institutional buyers: 0.01x

- (RII) Retail Individual buyers: 0.26x

- Employees: 0.03x

 

At 01:40:00 PM.

- This IPO has been subscribed 0.19x by 01:40 PM. on Day 1

- It is a public issue of 19,13,247 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x

- (NII) Non-institutional buyers: 0.03x

- (RII) Retail Individual buyers: 0.37x

- Employees: 0.04x

 

At 02:50:00 PM.

- This IPO has been subscribed 0.23x by 02:50 PM. on Day 1

- It is a public issue of 19,13,247 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.10x

- (NII) Non-institutional buyers: 0.05x

- (RII) Retail Individual buyers: 0.40x

- Employees: 0.05x

 

At 03:30:00 PM.

- This IPO has been subscribed 0.25x by 03:30 PM. on Day 1

- It is a public issue of 19,13,247 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.10x

- (NII) Non-institutional buyers: 0.08x

- (RII) Retail Individual buyers: 0.42x

- Employees: 0.05x

 

At 04:20:00 PM.

- This IPO has been subscribed 0.27x by 04:20 PM. on Day 1

- It is a public issue of 19,13,247 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.10x

- (NII) Non-institutional buyers: 0.10x

- (RII) Retail Individual buyers: 0.45x

- Employees: 0.05x

 

About Rainbow Children’s Medicare Limited

Rainbow Children’s Medicare Limited is a hospital chain that offers gynaecological, fertility care, pregnancy, paediatrics, and other surgical and medical services for women and children. It operates 3 clinics and 14 hospitals in 6 cities, maintaining 1,500 beds in total.

In 1999, Rainbow Children’s Medicare Limited introduced its 1st paediatric speciality hospital in Hyderabad. With the leadership of its founding promoter, Dr. Ramesh Kancharla, it has been successful in managing complicated diseases through strong clinical expertise.

Experienced medical specialists are available full-time at the hospitals of Rainbow Children’s Medicare Limited, catering to intensive care services and emergencies for children. The hospitals focus on constant quality improvement by adhering to protocols and policies, auditing, training and infection control practices. With approval from SEBI, Rainbow Children’s Medicare Limited now plans to proceed with its initial public offering.

Rainbow Children’s Medicare Limited IPO Objectives

Rainbow Group wants to use the proceeds from the initial public offering in the following ways:

- Towards capital expenditure for establishing new hospitals and purchasing medical equipment.
- For general corporate purposes.
- For early redemption of the NCDs (non-convertible debentures) that the company has issued in full.

Why should you invest in Rainbow Children’s Medicare Limited IPO?

Following are some of the reasons why investors can opt for this offer:

  • Knowledgeable and well-qualified paediatricians are associated with the child care segment of Rainbow Children’s Medicare Limited. They are devoted to restoring, sustaining and enhancing children’s development and health.
  • The company maintains technology-driven medical equipment to cater to the inpatient specialities such as nutrition, cardiology, oncology, haematology, nephrology, gastroenterology and neurology.
  • BirthRight, a praiseworthy initiative of the Rainbow Group, is the first JCI-accredited fertility centre in India. It offers personalised, specialised and comprehensive health care facilities for women through gynaecology, maternity and other prescribed services.
  • The CSR activities of Rainbow Children’s Medicare Limited include assistance to government-backed rural health centres, provisions for life support training and promotion of sports and education.

Financial highlights

Here is the financial profile of Rainbow Children’s Medicare Limited to guide the prospective investors:

Financial Year Total Assets in Millions Total Revenue in Millions Profit After Tax in Millions
FY 2021 Rs. 10,812.67 Rs. 6,603.10 Rs. 395.68
FY 2020 Rs. 10,192.37 Rs. 7,297.37 Rs. 553.40
FY 2019 Rs. 9,263.96 Rs. 5,511.44 Rs. 445.90

How to apply for Rainbow Children’s Medicare Limited IPO?

Investors can opt for the initial share sale of Rainbow Children’s Medicare Limited through the below-mentioned procedures:

Demat Account

Individuals eager to invest in the initial public offering of Rainbow Children’s Medicare Limited can choose to open their Demat accounts via Angel One. It is easy to create a free-of-cost Demat account using the Angel One application or portal. Once investors open and sign in to their Demat accounts, they can participate in this IPO by providing the relevant credentials.

UPI

Investors can use their UPI IDs to apply for the issue of Rainbow Children’s Medicare Limited or any other organisation. At first, it is crucial to link their UPI IDs to the required bank accounts. Next, they will be required to link the Angel One platform to their UPI IDs.
Now, they will have to select the UPI button from the app or portal of Angel One to place their bids for the public offer.

Rainbow Children’s Medicare Limited IPO - Noteworthy Highlights

Go through the special aspects of the company before taking the plunge:

  • Rainbow Children’s Medicare Limited is among the best 5 paediatric multi-speciality hospitals in India. The Week Hansa has given it this recognition for the previous 3 consecutive years.

  • In 2010, India Healthcare Awards identified it as the best children’s hospital in the country. ICICI Lombard and CNBC TV 18 are associated with this award.

  • In January 2021, Rainbow Children’s Medicare Limited expanded Vikrampuri Hospital.

  • The company has also set up a hospital at Yelahanka, Bengaluru, in January 2020.

Rainbow Children’s Medicare Limited IPO - SWOT Analysis

Strengths

  • Rainbow Children’s Medicare Limited has a high ability to operate, create and conceptualise specialised child care hospitals.
  • It has strong expertise in fertility and perinatal genetic care, complex obstetric and foetal care, newborn care and multi-organ transplants.
  • High-calibre medical practitioners work 24*7 for Rainbow Children’s Medicare Limited.
  • This entity maintains a strong financial and operational track record.

Weaknesses

  • Rainbow Group is highly dependent on its ability to retain and attract medical practitioners. It has primarily recruited doctors on a contractual basis. However, the doctors may terminate their contracts prematurely.

Opportunities

  • In 2021, it had 1,686 visiting doctors and 602 full-time medical professionals. Most of the hired doctors have qualifications from institutions in Australia, Canada, the United States and the United Kingdom.
  • With a vigorous digital ecosystem, Rainbow Children’s Medicare Limited plans to expand its reach. During the COVID-19 outbreak, it carried out 1,25,000+ outpatient consultations via video conferencing platforms abroad and in India.

Threats

  • There is a chance of failure to renew or obtain permits, registrations, licences and approvals. Additionally, it has to comply with the prescribed labour, environmental, health and safety regulations.
  • It has to be careful with the implementation or management of growth strategies.
  • Rainbow Children’s Medicare Limited faces fierce competition from some other medical care companies.

Competitive Analysis: Market Peers

The chart below illustrates the P/E ratio of the major competitors of Rainbow Hospitals:

Company Name P/E Ratio
Krishna Institute of Medical Sciences Limited 26.42
Max Healthcare Institute Limited 1.59
Narayana Hrudalaya Limited 0.70
Fortis Healthcare Limited 1.45
Apollo Hospitals Enterprise Limited 10.74

Rainbow Children’s Medicare Limited IPO FAQs

What is the date of listing for Rainbow Children’s Medicare Limited?

The shares of Rainbow Children’s Medicare Limited are likely to list on NSE and BSE on 10 May 2022.

How much can retail investors invest in the IPO of Rainbow Group?

In the IPO of Rainbow Group, retail investors can choose to invest Rs. 14,634 (minimum) for the single lot. They can invest Rs. 1,90,242 (maximum) for thirteen lots.

What is the YoY hike in profit for Rainbow Group?

Rainbow Group has reported a 228% YoY rise in profit for 9 months ended on 31 December 2021.

What is the YoY surge in revenue for Rainbow Hospitals?

In 9 months ended on December 2021, the revenue of Rainbow Hospitals hiked 56.6% to around Rs. 761.3 crores year on year.

Did the profit of Rainbow Group decline in FY 21?

The profit of Rainbow Children’s Medicare Limited stood at Rs. 39.57 crores in FY 21, dropped by 28.5% compared to FY 20.

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