Rainbow Children’s Medicare lists at a 6% discount

Shares of Rainbow Children's Medicare

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.