Rainbow Children’s Medicare IPO of ₹2,000 crore will open next week. details here

Rainbow Children Medicare IPO Details –

• The IPO consists of a fresh issue of equity shares, totaling up to 280 crore and offer for sale of 2.4 crore equity shares by the selling shareholders
• IPO size is expected to exceed 2,000 crore, sources told news agency PTI,
• Among those who sold shares in OFS are promoters Ramesh Kancharla, Dinesh Kumar Chirla and Adarsh ​​Kancharla, promoter group entity Padma Kancharla and investors British International Investment Plc (formerly known as CDC Group plc) and CDC India.
• The offer also includes reservation of up to 3 lakh shares for membership by eligible employees.
• The Company proposes to utilize the net proceeds from the fresh issue for early redemption of Non-convertible Debentures (NCDs) issued by the Company; Capital expenditure for setting up of new hospitals and purchase of medical equipment for such new hospitals; and general corporate purposes.
• Rainbow, backed by UK-based development finance institution CDC Group plc, established its first 50-bed pediatric specialty hospital in Hyderabad in 1999. Since then, it has established its reputation as a leader in multi-specialty pediatric services, with strong clinical expertise in the management of complex diseases.
• By December 20, 2021, Rainbow Children’s Medicine Operates 14 hospitals and three clinics in six cities in India with a total bed capacity of 1,500 beds.
• Its main specialties are pediatrics, which includes neonatal and pediatric intensive care, pediatric multi-specialty services, pediatric quaternary care (including multi-organ transplant); and obstetrics and gynecology, including general and complex obstetric care, multi-disciplinary fetal care, perinatal genetic and reproductive care.
• Kotak Mahindra Capital Company, JP Morgan India and IIFL Securities is the Book Running Lead Manager of the issue.
• The equity shares of the company are proposed to be listed on BSE and NSE.