Rainbow Children’s Medicare Ltd, a multi-specialty hospital chain backed by U.K.-based CDC Group Plc., has filed the draft red herring prospectus (DRHP) with SEBI to raise funds through an initial public offering (IPO). The IPO size is expected to be more than ₹2000 crore.
The IPO comprises fresh issue of equity shares aggregating up to ₹280 crore and an offer sale of upto 2.4 crore equity shares by the selling shareholders.
The company proposes to utilise the net proceeds from the fresh issue towards early redemption of NCDs issued by it in full; capital expenditure towards setting up of new hospitals and purchase of medical equipment and general corporate purposes.
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