Cyril Amarchand Mangaldas advised on Rainbow Medicare IPO
Cyril Amarchand Mangaldas advise on Rainbow Medicare IPO
It is the first such company to list in India and the IPO was subscribed over 12 times
Law firm Cyril Amarchand Mangaldas has advised the Book Running Lead Managers (BRLMs), Kotak Mahindra Capital Company Limited, JP Morgan India Private Limited, and IIFL Securities Limited on the Rs.1,581 crores Initial Public Offer (IPO) of Rainbow Children's Medicare Limited.
Rainbow Medicare is a leading multi-specialty pediatric and obstetrics and gynaecology hospital chain in India. It operates 14 hospitals and three clinics in six cities.
The IPO comprised an offer of 29,178,021 equity shares of the face value of Rs.10 each, for a cash price of Rs. 542 per equity share. It also included a fresh issue of 5,177,121 equity shares, aggregating to Rs.2,800 million; and an Offer For Sale of 24,000,900 equity shares aggregating to 13,008.49 million.
These were by Dr. Ramesh Kancharla, Dr. Dinesh Kumar Chirla, Dr. Adarsh Kancharla, British International Investment plc (formerly the CDC Group plc), CDC India Opportunities Limited, and Padma Kancharla. The IPO also included an employee reservation of 300,000 equity shares.
The team of Cyril Amarchand Mangaldas was led by Yash Ashar (Partner - Head of Capital Markets); and Abhinav Kumar (Partner). They were supported by Anuj Pethia (Consultant); Kinjal Shah (Senior Associate); Vibham Raman (Associate); and Tanushri More (Associate).
The US law firm Sidley Austin acted as international counsel.
