Rainbow Children's Medicare IPO

The IPO of Rainbow Children's Medicare Limited, a chain of children's hospitals, is about to come.

According to information received from the Security and Exchange Board of India (SEBI), Rainbow Children Medicare IPO will open on 26 April.

According to the information received from SEBI, this IPO will be open for three days. It will open on 26 April and close on 29 April.

Rainbow Childrens Medicare Private Limited is planning to raise Rs 2,000 crore from this Initial Public Offer (IPO).

Rainbow Children will issue fresh equity shares of up to Rs 280 crore and offer for sale (OFS) of 2.4 crore equity shares under the Medicare IPO.

Rainbow Children's Medicare Ltd. has reserved up to three lakh shares for its employees under this IPO.

According to the documents given to SEBI, Ramesh Kancharla, Dinesh Kumar Chirla and Adarsh ​​Kancharla will offer shares in the OFS.

Rainbow childrens medicare private limited will sell its shares in the range of Rs 516-542 per equity share.

Allotment of Rainbow Medicare IPO shares will be finalized on May 5, whereas initiation of refunds will kick off from May 6.

Rainbow childrens medicare private limited Shares will be credited into Demat accounts on May 9. IPO listing is likely by May 10.

RCML operates a multi-specialty pediatric, obstetrics and gynecology hospital chain in India. The company kicked off its operations in 1999.

The company net profit of Rs 39.59 crore in financial 2020-21, a 28 per cent drop compared to its bottomline of Rs 55.34 crore in the previous year.

For the 9 months ended December 31, RCML reported a net profit of Rs 126.41 crore with total revenue of Rs 774.06 crore.

Let us tell you that as of December 2021, Rainbow has a total bed capacity of 1,500 in 14 hospitals and three clinics in six cities of India.

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