Rainbow Medicare IPO subscribed 55% on second day of issue

The institutional portion was subscribed by 10 per cent, the retail investor portion by 82 per cent

The initial public offering (IPO) of Rainbow Medicare was subscribed 55 per cent on Thursday, the second day of the offer. 

The institutional portion was subscribed by 10 per cent, the wealthy investor portion by 56 per cent, the retail investor portion by 82 per cent, and the portion reserved for employees by 14 per cent. 

Brokerages such as ICICI Direct, Ashika and Marwadi Financial have issued a ‘subscribe’ rating on the IPO. 

"Considering the trailing 12-month (Dec 21) EPS of Rs 12.56 on a post issue basis, the company is going to list at a P/E of 43.16 times