Rainbow Children's Medicare files papers; eyes over Rs 2,000 cr via IPO

Its core specialties are pediatrics, which includes newborn and pediatric intensive care, pediatric multi-specialty services, pediatric quaternary care (including multi organ transplants)

Multi-specialty pediatric hospital chain Rainbow Children's Medicare Ltd has filed preliminary papers with capital markets regulator Sebi to raise over Rs 2,000 crore through an initial public offering (IPO).

The public issue comprises fresh issue of equity shares aggregating up to Rs 280 crore and an offer sale of up to 2.4 crore equity shares by the selling shareholders, according to the draft red herring prospectus (DRHP).

The offer also includes a reservation for subscription by eligible employees.

According to market sources, the IPO size is expected to be more than Rs 2,000 crore.

The company proposes to utilise the net proceeds from the