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Rainbow childrens medicare limited IPO Detail

Rainbow childrens medicare limited IPO Detail
Rainbow, backed by UK-based development finance institution CDC Group plc, established its first 50-bed pediatric specialty hospital in 1999 in Hyderabad. It is a leading multi-specialty pediatric and obstetrics and gynecology hospital chain in India, operating 14 hospitals and three clinics in six cities, with a total bed capacity of 1,500 beds. Its core specialties are pediatrics, which includes newborn and pediatric intensive care, pediatric multi-specialty services, pediatric quaternary care (including multi organ transplants); and obstetrics and gynecology, which includes normal and complex obstetric care, multidisciplinary fetal care, perinatal genetic and fertility care.
It follows a doctor engagement model thus ensuring the availability of most of the specialities available at the firm’s hospital 24/7. In 2021, the firm had 602 full-time doctors and 1,686 part time/visiting doctors. A number of hired doctors in neonatal, pediatric intensive care, pediatric sub specialties, obstetrics and gynaecology are trained or possess qualifications from the United Kingdom, United States, Canada and Australia, which provides the firm with a competitive advantage. The newly hired doctors enter a retainership contract of initial two to three year periods, which provides them with stability and making it a desirable workplace
The firm plans to increase the scale of its reach to patients through a robust digital ecosystem. The pandemic period, FY 2020-2021, driven in part by the movement restrictions arising out of the COVID-19 pandemic, they conducted over 125,000 outpatient video consultations through video consultation platform including in locations where it does not have a physical presence (within India and abroad).

Company Promoters

Dr. Ramesh Kancharla, Dr. Dinesh Kumar Chirla and Dr. Adarsh Kancharla

IPO Details

IPO Opening DateApr 27, 2022
IPO Closing DateApr 29, 2022
Issue TypeBook Built Issue IPO
Face Value₹10 per equity share
IPO Price ₹516 - 542 per equity share
Market Lot27 Shares
Min Order Quantity27 Shares
Listing AtBSE, NSE
Issue Size₹1,580.85 Cr
Fresh Issue₹280.00 Cr
Offer for Sale₹1,300.85 Cr
Retail Portion 35%

IPO Subscription (Bidding Detail)

Day 1 0.1x 0.12x 0.48x 0.06x - 0.29x
Day 2 0.1x 0.56x 0.82x 0.13x - 0.55x
Day 3 38.91x 3.73x 1.38x 0.31x - 12.43x

IPO Tentative Timetable

The Rainbow childrens medicare limited IPO open date is Apr 27, 2022, and the close date is Apr 29, 2022. The issue may list on May 10, 2022.

IPO Open DateApr 27, 2022
IPO Close DateApr 29, 2022
Basis of Allotment DateMay 05, 2022
Initiation of RefundsMay 06, 2022
Credit of Shares to Demat AccountMay 09, 2022
IPO Listing DateMay 10, 2022

IPO Lot Size

The Rainbow childrens medicare limited IPO market lot size is 27 shares. A retail-individual investor can apply for up to 13 lots (351 shares or ₹190242).

ApplicationLotsSharesAmount (Cut-off)

IPO Promoter Holding

Pre Issue Share Holding62.19%
Post Issue Share Holding49.83%

Company Financials:

For the year/period ended (₹ in Cr)

Financial Year Total Assets Total Revenue Profit After Tax
30-Sep-21 1179.77 519.59 81.22
31-Mar-21 1081.27 660.31 39.57
31-Mar-20 1019.24 729.74 55.34
31-Mar-19 926.40 551.14 44.59

Objects of the Issue:

The company proposes to utilise the net proceeds from the fresh issue towards 
•    early redemption of non-convertible debentures (NCDs) issued by the company, in full
•    capital expenditure towards setting up of new hospitals
•    purchase of medical equipment for such new hospitals
•    general corporate purposes

Rainbow childrens medicare limited IPO Registrar:

KFin Technologies Limited

Rainbow childrens medicare limited IPO Lead Manager(s):

Kotak Mahindra Capital Company Limited (Past IPO Performance), J.P. Morgan India Private Limited (Past IPO Performance), IIFL Securities Ltd (Past IPO Performance)

Company Contact Information:

Rainbow childrens medicare limited

8-2-120/103/1, Survey No. 403, Road No. 2, Banjara Hills,