Friday, July 1, 2022
IndiaRainbow Children's Medicare IPO Premium will increase in gray market before IPO...

Rainbow Children’s Medicare IPO Premium will increase in gray market before IPO opens, will you invest?

Rainbow Children's Medicare IPO GPM: Rs 1,595 crore IPO of Rainbow Children's Medicare Limited is open on Wednesday, April 27

The Initial Public Offer (IPO) of Rainbow Children’s Medicare Ltd is open on Wednesday, April 27. The company is bringing an offer of around Rs 1,595 crore and bidding can be done till April 29, 2022. As the IPO opening date nears, demand for shares of Rainbow Children’s Medicare has increased in the gray market.

Rainbow Children’s Medicare IPO GMP

According to experts, the gray market premium (GMP) of Rainbow Children’s Medicare shares to Somavar was Rs 50, which is Rs 15 higher than Sunday’s GMP of Rs 35. Analysts say that the sentiment of the stock market has been negative for the last two trading sessions and on Monday also closed in the red mark in the market. Despite this, there was an increase in gray market premiums for Rainbow Children’s Medicare, which can be seen as a good sign.

He added that as the stock market recovers, the gray market premium for Rainbow Children’s Medicare will rise further. Over the past few days, the gray market premium of Rainbow Children’s Medicare shares fell from Rs 53 to Rs 35. In such a situation, today’s increase is expected to give relief to those who are planning to invest in this IPO.

What does this gray market premium mean?

The gray market premium for Rainbow Children’s Medicare is Rs 50 on Monday. This means that the gray market expects the IPO of Rainbow Children’s Medicare to be listed on the stock exchange at Rs 50 more than its issue price. Rainbow Children’s Medicare has fixed an upper issue price of Rs 542 for the IPO. Hence, Gray Market expects its shares to be listed at Rs 592 (₹542 + ₹50), which is about 9 per cent higher than its issue price.

The company will issue new shares of 280 crores

The company will issue fresh equity shares of up to Rs 280 crore and bring an offer-for-sale (OFS) of 2.4 crore equity shares under its IPO. Under the offer-for-sale (OFS), the promoters of the company, Ramesh Kancharla, Dinesh Kumar Chirala and Adarsh Kancharla, will sell their stake.

Apart from this, promoter group company Padma Kancharla, investors British International Investment Plc and CDC India will also sell their stake. The company plans to be listed on the stock exchanges on May 10.

About the company

Rainbow Children’s Medicare Limited is a multi-specialty chain of children’s hospitals. As of December 20, 2021, Rainbow Children’s Medicare has 14 hospitals and three clinics in six cities across the country. The total bed capacity of these hospitals is 1,500. Kotak Mahindra Capital Company, JP Morgan India and IIFL Securities are the book running lead managers of this IPO.

Covid India Active Cases

India
123,673
Total active cases
Updated on July 1, 2022 12:38 am

DMCA.com Protection Status

Related Stories

Trending Stories

Robinhood is going to buy US crypto-exchange FTX? Shares jump 14% on news

Shares of American company Robinhood, which provides trading on zero-commission, jumped about 14 percent on Monday. The surge came after a Bloomberg report said...

30,000 Years Old Frozen Mammoth ice age Baby discovered in Yukon Exicites Canada

In Canada researchers found 30,000 years old Frozen Mammoth baby after this news was went viral over internet. Also many people were asking Mammoth...

IND vs Eng 2022 Rohit Sharma Tests Covid-19 Positive in England

With the only Test match between India and England set to start on July 1, captain Rohit Sharma has been ruled out with a...

Punjab IAS Officer Sanjay Popli Son Karthik Suicide Himself by Gun Shoot

Punjab IAS officer Sanjay Popli son has shot himself with his licensed gun in Chandigarh and is hospitalised. Only last week, the Vigilance team...

Aamir Khan donates Rs 25 lakh to CM Relief Fund to help Assam flood...

Assam has been grappling with floods for the past few days. Incessant rains and floods have left many people homeless. In such a situation,...

Recently Popular

Thalapathy 66 Movie Latest Updates Rashmika Mandanna Vijay

The Pooja of Vijay's 66th film Thalapathy was held today. The pictures taken in it...

Indian Population Control Law enacted soon say Union Minister Prahlad Singh Patel

The central government may soon bring a population control law in the country. Union Minister...

Horwin SK3 Electric Scooter offers up to 300 km range Horwin Price, Booking

Nowadays, petrol-diesel prices are hitting the electric vehicles. Many popular companies are constantly releasing electric...

Oppo F21 Pro 5G will get 64MP rear, 32MP selfie camera price and specifications

Oppo F21 Pro has been launched in Bangladesh before India. Tomorrow i.e. on April 12,...

Fantastic Beasts: The Secrets of Dumbledore (2022) Leaked Online Watch Full HD Print

Fantastic Beasts: The Secrets of Dumbledore (2022) a Hollywood film is releasing English, Hindi, Tamil,...

Benefits of Eating Bottle Gourd in Summer

We eat a variety of vegetables every day. Many people like some nuts. No one...

Recommended Stories

Trending Now