The capital market regulator Securities and Exchange Board of India has approved the IPOs of Rainbow Children’s Medicare and eMudhra. Rainbow Children’s Medicare is a multi-speciality pediatric hospital chain, and wants to raise over Rs 2,000 crore through IPO. Rainbow is backed by UK-based development finance institution CDC Group plc. It started with the establishment of its first 50-bed pediatric speciality hospital in 1999 in Hyderabad. Since then, it has established its reputation as a leader in multi-speciality pediatric services. Another company eMudhra’s IPO consists of a fresh issue of Rs 200 crore and an offer for sale of up to 8.51 million shares by its existing shareholders and promoters.
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