IndiaRainbow Children's Medicare IPO raised Rs 470 crore from anchor investors before...

Rainbow Children’s Medicare IPO raised Rs 470 crore from anchor investors before the issue opened

The issue price of Rainbow Children's Medicare has been fixed at Rs 516-542.

Rainbow Children’s Medicare IPO: Multi-specialty pediatric hospital chain Rainbow Children’s Medicare has raised Rs 470 crore from anchor investors, a day before the issue opens. The issue of the company will open on April 27 and close on April 29.

The issue price of Rainbow Children’s Medicare has been fixed at Rs 516-542. The company has allotted 87 lakh shares to its anchor investors at a price of Rs 542 per share.

The company has given shares to anchor investors at the upper band of the issue price. The company is about to bring an issue of Rs 1581 crore.

In Rainbow Children’s Medicare IPO, part is fresh issue and part is offer fall sale (OFS). Out of this, fresh issue of Rs 280 crore will be issued. While 2.4 crore shares will be sold by the promoters and investors of the company.

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Ramesh Kanchrala, Dinesh Kumar Chirla and Adarsh Kanchrala, promoter group entity Padma Kancharala will sell their stake in the company’s OFS which are being sold by promoters. In addition, the company’s investors British International Investment and CDC India will sell their stake.

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