The maiden public offering of Rainbow Children's Medicare, a leading multi-specialty paediatric and obstetrics and gynaecology hospital chain, has been subscribed 29 percent on April 27, the first day of bidding.
The IPO received bids for 59.62 lakh equity shares against IPO size of 2.05 crore equity shares. Retail investors, first to participate in the offer, subscribed to 48 percent of the portion reserved for them.
The portion set aside for non-institutional investors was subscribed 11 percent, while the portion for qualified institutional buyers was subscribed 10 percent.
Half of IPO size has been reserved for qualified institutional buyers, 15 percent for non-institutional investors, and the remaining 35 percent for retail bidders.