How were the final allotment numbers for Rainbow Children Medicare IPO?

The initial public offer (IPO) of Rainbow Children Medicare closed for subscription on Friday, 29th April 2022, which was the third and last day of the IPO. As of the close, the IPO got total bids for 2,549.04 shares against the available 205.15 lakh shares on offer in the IPO (net of anchor allocation). Thus, the overall subscription was 12.43X of the issue size. The break-up of subscriptions was the best for QIB investors followed by HNI/NII investors.

Let us first look at the QIB portion. You would recollect that on 26th April, Rainbow did an anchor placement 86,63,404 shares to 36 anchor investors at the upper price band of Rs.542. Net of the anchor allocation, the QIB quota was for 57.76 lakh shares of which it has got bids for 2,246.98 lakh shares at the close of Day-3. This implies QIB subscription of 38.90X at the close of Day-3. QIB bids get bunched on the last day.

Let me turn to the HNI/NII portion. The HNI portion subscription was 3.73 times as this portion got bids for 161.63 lakh shares against the quota of 43.32 lakh shares. Most of the response came from HNI individuals and funding was not too active in the IPO. The retail portion was subscribed 1.38X. The IPO has closed for subscription on 29th April 2022.