<p>Multi-speciality pediatric hospital chain Rainbow Children's Medicare Ltd on Friday said it has fixed a price band of Rs 516-542 a share for its Rs 1,581-crore initial public offering (IPO).</p>.<p>The-three day initial share sale will be open for public subscription during April 27-29, and the bidding for anchor investors will open on April 26, according to the company.</p>.<p>The public issue comprises a fresh issue of equity shares aggregating up to Rs 280 crore and an offer sale (OFS) of up to 2.4 crore equity shares by promoters and investors.</p>.<p>Those selling shares in the 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. </p>.<p>The company proposes to utilise the net proceeds from the fresh issue for early redemption of non-convertible debentures (NCDs) issued by the company in full; capital expenditure towards setting up of new hospitals and purchase of medical equipment for such new hospitals; and general corporate purposes.</p>.<p>At the upper end of the price band, the public issue is expected to fetch Rs 1,581 crore.</p>.<p>Half of the issue size has been reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. </p>.<p>The offer also includes a reservation of up to 3 lakh shares for employees, who will receive shares at a discount of Rs 20 to the final offer price.</p>.<p>Investors can bid for a minimum of 27 equity shares and in multiples thereof.</p>.<p>Rainbow, backed by UK-based development finance institution CDC Group plc, established its first 50-bed pediatric speciality hospital in 1999 in Hyderabad. Since then, it has established its reputation as a leader in multi-speciality pediatric services, with strong clinical expertise in managing complex diseases.</p>.<p>As of December 20, 2021, Rainbow operates 14 hospitals and three clinics in six cities in India, with a total bed capacity of 1,500 beds. </p>.<p>Its core specialities are paediatrics, which includes newborn and pediatric intensive care, pediatric multi-speciality services, pediatric quaternary care (including multi-organ transplants); and obstetrics and gynaecology, which includes normal and complex obstetric care, multi-disciplinary fetal care, perinatal genetic and fertility care. </p>.<p>Kotak Mahindra Capital Company, JP Morgan India and IIFL Securities are the book running lead managers to the issue.</p>.<p>The equity shares are proposed to be listed on BSE and NSE.</p>.<p><strong>Watch latest videos by DH here:</strong></p>
<p>Multi-speciality pediatric hospital chain Rainbow Children's Medicare Ltd on Friday said it has fixed a price band of Rs 516-542 a share for its Rs 1,581-crore initial public offering (IPO).</p>.<p>The-three day initial share sale will be open for public subscription during April 27-29, and the bidding for anchor investors will open on April 26, according to the company.</p>.<p>The public issue comprises a fresh issue of equity shares aggregating up to Rs 280 crore and an offer sale (OFS) of up to 2.4 crore equity shares by promoters and investors.</p>.<p>Those selling shares in the 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. </p>.<p>The company proposes to utilise the net proceeds from the fresh issue for early redemption of non-convertible debentures (NCDs) issued by the company in full; capital expenditure towards setting up of new hospitals and purchase of medical equipment for such new hospitals; and general corporate purposes.</p>.<p>At the upper end of the price band, the public issue is expected to fetch Rs 1,581 crore.</p>.<p>Half of the issue size has been reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. </p>.<p>The offer also includes a reservation of up to 3 lakh shares for employees, who will receive shares at a discount of Rs 20 to the final offer price.</p>.<p>Investors can bid for a minimum of 27 equity shares and in multiples thereof.</p>.<p>Rainbow, backed by UK-based development finance institution CDC Group plc, established its first 50-bed pediatric speciality hospital in 1999 in Hyderabad. Since then, it has established its reputation as a leader in multi-speciality pediatric services, with strong clinical expertise in managing complex diseases.</p>.<p>As of December 20, 2021, Rainbow operates 14 hospitals and three clinics in six cities in India, with a total bed capacity of 1,500 beds. </p>.<p>Its core specialities are paediatrics, which includes newborn and pediatric intensive care, pediatric multi-speciality services, pediatric quaternary care (including multi-organ transplants); and obstetrics and gynaecology, which includes normal and complex obstetric care, multi-disciplinary fetal care, perinatal genetic and fertility care. </p>.<p>Kotak Mahindra Capital Company, JP Morgan India and IIFL Securities are the book running lead managers to the issue.</p>.<p>The equity shares are proposed to be listed on BSE and NSE.</p>.<p><strong>Watch latest videos by DH here:</strong></p>