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DRHP submitted to SEBI for Sah Polymers IPO, issue price fixed for Rainbow Children’s Medicare

IPO Watch: Sah Polymers has submitted draft documents with market regulator Securities and Exchange Board (SEBI) to raise funds through initial public offering (IPO). According to the draft documents, 1,02,00,000 new equity shares will be issued under the IPO. There will be no Offer for Sale (OFS).

The amount received from the IPO will be used in this
Funds from the IPO will be used to expand manufacturing and production capacity of the new Flexible Intermediate Bulk Containers (FIBC) plant. Apart from this, it will also be used for working capital requirements and repayment of debt for the new project.

What does Sah Polymers do?
Udaipur-based company Sah Polymers manufactures and sells Polypropylene (PP)/High Density Polyethylene FIBC bags, sacks, woven fabrics and woven polymer products.

Rainbow Children’s Medicare IPO price range fixed at Rs 516-542 per share
Children’s hospital chain Rainbow Children’s Medicare Ltd has set a price range of Rs 516-542 per share for its initial public offering (IPO) of Rs 1,581 crore. The company said in a statement that the three-day IPO will open on April 27 and close on April 29. Bids for anchor investors will open on 26 April.

IPO will have new shares and OFS
Rainbow Children will issue fresh equity shares of up to Rs 280 crore and offer for sale (OFS) of 2.4 crore equity shares under the Medicare IPO. In the OFS, Ramesh Kancharla, Dinesh Kumar Chirla and Adarsh ​​Kancharla, promoter group arm Padma Kancharla and investors British International Investment Plc (formerly known as CDC Group Plc) and CDC India will offer shares. Up to three lakh shares have been reserved for the eligible employees of the company.

Know about the company
Rainbow was operating 14 hospitals and three clinics in six cities in India as of December 20, 2021. The total bed capacity of these hospitals is 1,500.

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