Rainbow Children's Medicare's IPO subscribed 12.4x on institutional push

Institutional demand for IPOs of both Rainbow Medicare and Campus Activewear, which closed this week, have been strong. Experts say this is a healthy sign for LIC's IPO, which opens next week

The initial public offering (IPO) of Rainbow Children's Medicare, a multi-speciality pediatric hospital chain, saw 12 times more demand than shares on offer.

The institutional investor portion of the issue was subscribed 38.9 times, high networth individual portion garnered 3.73 times subscription and the retail portion was subscribed 1.4 times.

The institutional demand for both the IPOs of Rainbow Medicare and Campus Activewear, which closed this week, have been strong. Experts say this is a healthy sign for LIC’s IPO, which opens next week.

Hyderabad-based Rainbow Medicare raised Rs 280 crore from the IPO. The issue also consisted of secondary