Rainbow Children's Medicare IPO GMP today is ₹ 50, which is ₹ 15 higher from its Sunday's grey market premium of ₹ 35, say market observers
Rainbow Children's Medicare IPO (Initial Public Offering) is opening for subscription on 27th April 2022. The public issue worth ₹ 1,595 crore will remain open till 29th April 2022. As the issue opening date is fast approaching grey market has started giving signals in regard to the public issue as well. According to market observers, Rainbow Children's Medicare share price is quoting at a premium of ₹ 50 in grey market today.
Rainbow Children's Medicare IPO GMP
As per the market observers, Rainbow Children's Medicare IPO grey market premium (GMP) today is ₹ 50, which is ₹ 15 higher from its Sunday's grey market premium of ₹ 35. Observers said that rise in GMP can be taken as a good signal from the grey market as secondary market sentiment has been negative for last two sessions and today stock market has opened in red territory. They said that there would sharp upside movement in Rainbow Children's Medicare share price in grey market once there is trend reversal in secondary market. In last few days, Rainbow Children's Medicare IPO GMP had dipped from ₹ 53 to ₹ 35. So, today's rise is expected to give relief to those who are planning to invest in the public issue.
Rainbow Children's Medicare IPO GMP today is ₹ 50, which means grey market is expecting Rainbow Children's Medicare IPO to list around ₹ 592 ( ₹ 542 + ₹ 50), which is around 9 per cent higher from its upper price band of ₹ 542 per equity share.
However, stock market analysts warned IPO investors to make investment decision only on the basis of GMP. They said that GMP is an unofficial and non-regulated data. It has nothing to do with the company's financials. They advised investors to look at the concrete fundamentals available in balance sheet of the company.
Speaking on Rainbow Children's Medicare IPO, Abhay Doshi, Founder at UnlistedArena.com said, "Rainbow Children Medicare Limited is leading multi-specialty hospital chain in India operating in six cities with total bed capacity of 1500 beds following hub-and-spoke model mainly. On the operational front, the company has posted steady top and bottom line numbers, However, 9MFY22 performance seems to be exceptional," adding, "At the upper price band, pre-fresh issue, the asking PE comes around 128x and Market cap to revenue comes around 8x based on FY21 financials. The asking valuations is in-line with listed players. However, It would be keen to watch if the company can maintain 9MFY21 performance going ahead."
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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