Rainbow Children’s Medicare IPO: Shares of Rainbow Children’s Medicare listed lower on Tuesday. At the close of trade, it declined by about 17 per cent against the issue price of Rs 542. On the BSE, the stock opened at Rs 506, recording a fall of 6.64 per cent against the price band. During the day’s trading, the company’s stock fell 22.32 percent to Rs 421. At the end of trading, Rainbow Children’s Medicare shares closed at Rs 450.10, down 16.95 per cent. It closed 16.97 percent lower at Rs 450 on NSE.
IPO was subscribed 12.43 times
On the first day, 9.19 lakh shares were traded on the BSE and over 1.73 crore shares on the NSE. Rainbow Children’s Medicare IPO of Rs 1,581 crore was subscribed 12.43 times. Let us inform that as of December 20, 2021, Rainbow was operating 14 hospitals and three clinics in six cities of India. The total bed capacity of these hospitals is 1,500.
Also read- Modi government will give chance to earn Rs 30,000 every month, college degree is not needed, Scindia announced
about this issue
Let us inform you that Rainbow Children’s Medicare Limited had set a price range of Rs 516-542 per share for its Rs 1,581 crore IPO. Under the IPO, fresh equity shares of up to Rs 280 crore were issued and an offer for sale (OFS) of 2.4 crore equity shares has been brought.