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.
Rainbow Children’s Medicare and eMudhra gets SEBI nod
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