Rainbow Children’s Medicare IPO subscribed 12.43 times on final day, QIB portion booked 39 times
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The initial public offer of Rainbow Children’s Medicare received offers for 25.49 stocks against its size of 2.05 stocks, subscribers 12.43 times on the last day. The number had opened on April 27.
Retail investors did not seem enthusiastic because they would offer 1.38 times of quota, while the employees made offers for 31% of the reserved part.The part of non -institutional investors was subscribed 3.73 times and that of qualified institutional buyers 38.9 times.
The IPO, which should bring back the multi-specialty hospital chain based in the south and the gynecology hospital RS 1 580.8 crore, includes a new number of 280 roots and a sales offer from 1.301 crores by promoters and investors.
The price strip of the offer is RS 516-542 per share.”Although the company is confronted with strong competition, given the coverage of health and increasing insurance and that the overall segment of pediatrics, obstetrics and gynecology should witness healthy growth, the Long -term perspectives of the company are attractive “, Yesha Shah, head of action research in Samco Securities, said.
Read also – IPO MEDICARE FOR CHILDREN RAINBOW for children – Should you subscribe?
Operational performance is resilient and on the assessment front, the company is at a reasonable price. Its prices with profits based on the annualized profits of financial year 22 are approximately 31x compared to the average of the industry of around 53x, she said.She added that the additional planned capex can depress operating margins short and halfway up. Given all these factors, she recommended “long -term subscribed”.The company operates 14 hospitals and three clinics in six cities, with a total capacity of 1,500 in December 2021, against 1,162 in March 2019.
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