made a weak debut on the Indian Stock Exchanges.They were listed at a discount of 6% below the issue price of ₹516 apiece. Rainbow Children's Medicare is Hyderabad-based chain of paediatric hospitals. According to the BSE data, the market capitalisation of the company after the listing stood at ₹5,135 crores.
The shares of the company did not stand upon the expectations, as the grey market premium, signalled a premium of ₹15 per share. Volatile market trends and concerns about a further increase in rate to tackle inflation around the world are some of the reasons behind the weak listing. The IPO was open between April 27 to April 29 and was oversubscribed 12.43 times by investors.
Currently, the multi-speciality paediatric, obstetrics and gynaecology hospital chain operates 14 hospitals and three clinics in six cities and has a total bed capacity of 1,500 beds. Other than this the firm has 602 full-time doctors and 1,686 part-time and visiting doctors.
The firm believes in a full-time doctor model for a high degree of patient satisfaction. The company plans to expand the hospital network and is in the process of building a digital healthcare delivery solution.