Rainbow Childrens Medicare IPO
Rainbow Childrens Medicare Limited (RAINBOW) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 10 May 2022.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +0.7% (likely range -10% to +20%), day's high +8.7%, chance of a gain 51%. Actual: -5.9% at the open, -4.5% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 57,75,605 | 22,46,97,591 | 38.9x | |
| NII (HNI) total | 43,31,704 | 1,61,62,740 | 3.73x | |
| Retail | 1,01,07,308 | 1,39,51,332 | 1.38x | |
| Employees | 3,00,000 | 92,124 | 0.31x | |
| Total | 2,05,14,617 | 25,49,03,787 | 12.4x |
Bids on NSE and BSE together, as published by NSE, as of 29 Apr 2022, 05:00 PM. Shares offered exclude the anchor portion. 4% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Rainbow Childrens Medicare's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| PB FintechNov 2021 | 24.9x | 7.82x | 3.31x | 16.6x | ₹6,224 Cr | +17.4% | +27.4% |
| Bandhan BankMar 2018 | 38.7x | 13.9x | 1.20x | 14.6x | ₹4,473 Cr | +33.1% | +33.1% |
| Sandhar TechnologiesMar 2018 | 14.5x | 6.39x | 1.42x | 6.19x | ₹515 Cr | +4.2% | +6.0% |
| Sheela FoamDec 2016 | 14.5x | 3.35x | 0.44x | 5.09x | ₹548 Cr | +17.8% | +41.4% |
| HDFC Standard Life Insurance CompanyNov 2017 | 16.6x | 2.29x | 0.94x | 4.90x | ₹8,695 Cr | +6.9% | +27.2% |
| Laurus LabsDec 2016 | 10.5x | 3.58x | 1.67x | 4.57x | ₹1,334 Cr | +14.5% | +16.4% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Kotak Mahindra Capital Company | 83 | +20.8% | 76% |
| J.P. Morgan India | 27 | +17.4% | 74% |
| IIFL Securities | 94 | +19.3% | 71% |
Offer documents (NSE)
Frequently asked
What is the Rainbow Childrens Medicare IPO price band and lot size? ₹516–542 per share, with a lot of 27 shares, so the smallest retail bid is ₹14,634.
How many times has it been subscribed? 12.4x overall: QIB 38.9x, NII 3.73x, retail 1.38x, employees 0.31x.
How did it list? It opened at ₹510, -5.9% against the issue price of ₹542, and closed its first day -16.9%.
