April 25, 2022

Rainbow Children's Medicare Limited is coming out with a fresh public issue to raise Rs 1580.85 crores from the market.

Key details of the issue:

  • Issue opens – April 27 (Wednesday)
  • Issue closes – April 29 (Friday)
  • Issue size – Rs 1580.85 crores
  • Price band – Rs 516 to 542 per equity share
  • Bid lot – 27 shares and in multiples thereof

And here are some details of the company and further details on the Rainbow Children’s Medicare Limited issue.

Company details:

Rainbow Children’s Medicare Limited are 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, as of December 31, 2021. According to the CRISIL Report, They had the highest number of hospital beds amongst comparable players in the maternity and pediatric healthcare delivery sector, as of March 31, 2021.

  • Their 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, multi-disciplinary fetal care, perinatal genetic and fertility care.
  • They established their first pediatric specialty hospital in 1999 in Hyderabad, Telangana. Since then, under the leadership of Dr. Ramesh Kancharla, their founding Promoter, they have established their reputation as a leader in multi-specialty pediatric services, with strong clinical expertise in managing complex diseases. They have also expanded their operations to include obstetrics and gynecology services, whereby they offer comprehensive perinatal services to patients. As of the date of this Red Herring Prospectus, five of their hospitals are accredited by NABH and three of their hospitals are certified by EDGE.
  • They believe that their ability to recruit and retain high caliber medical professionals has been integral to the success of their business. They follow a doctor engagement model whereby most of their core specialists work exclusively at their hospitals on a full-time retainer basis. This model ensures that most of their core specialists are available 24/7 on a roster basis at their hospitals, which is particularly important for children’s emergency, neonatal and pediatric intensive care services. As of December 31, 2021, they had 641 full-time doctors and 1,947 part time/visiting doctors.
  • In recent years, they have expanded their hospital network and increased their bed capacity from 1,162 beds as of March 31, 2019 to 1,500 beds as of December 31, 2021. Over the same period, they increased the number of hospitals from 10 to 14.

Issue size: Rs 1580.85 crores

Issue break-up:

  • QIB – 50% of the offer – Rs 782.59 crores
  • NIB – 15% of the offer – Rs 234.78 crores
  • RET – 35% of the offer – Rs 547.82 crores

Listing: NSE and BSE

Registrar: KFin Technologies Limited

UPI: All retail applications through brokers are compulsorily in UPI mode

Not an Espresso customer, but still want to apply for the Rainbow Children’s Medicare IPO? Become an Espresso customer in just 15 mins* by tapping here and take it from there! (* T&C apply)

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