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Rainbow Children's Medicare lists at 7% discount to issue price
Rainbow Children's Medicare (RCML), a multi-speciality pediatric clinic chain, made a powerless financial exchange debut with its portions recorded at Rs 506, a 7 percent rebate when contrasted with its issue cost of Rs 542 for each offer on the BSE on Tuesday. At 10:04 am, the stock exchanged at Rs 492.30, down 9% against its issue cost. The stock up to this point hit a high of Rs 519.35 and a low of Rs 482 on the BSE in intra-day exchange. In examination, the S&P BSE Sensex was down 0.04 percent at 54,449. "The muffled posting can be credited to unpredictable and negative market opinion and an absence of financial backer premium in medical clinic organizations. The organization has a specific nature of business, an accomplished supervisory group, demonstrated capacity to draw in, train and hold superior grade clinical experts. In any case, the clinic is an exceptionally serious business and standardization of benefit post Covid makes it appropriate just for forceful financial backers as long as possible. The individuals who applied for posting gains can keep a stop loss of Rs 500," said Santosh Meena, head of exploration, Swastika Investmart.
RCML's first sale of stock (IPO) gathered great reaction and the issue was bought in multiple times. The institutional financial backer piece of the issue was bought in 38.9 times, high networth individual part gathered 3.73 times membership and the retail segment was bought in 1.4 times.