Shares of Rainbow Children’s Medicare opened with a discount of nearly 7 per cent on Tuesday against the issue price of Rs 542.
The stock opened at Rs 506, registering a decline of 6.64 per cent from the issue price on the BSE. It further fell 11 per cent to Rs 482.
On NSE, the stock got listed at Rs 510, with a discount of 5.90 per cent.
Rainbow Children’s Medicare initial public offering of Rs 1,581 crore was subscribed 12.43 times last month.
The offering from the multi-specialty pediatric hospital range had a price band of Rs 516-542.
Rainbow Children’s Medicare, backed by UK-based development finance institution CDC Group plc, established its first 50-bed pediatric specialty hospital in Hyderabad in 1999.
(Except for the title, this story has not been edited by NDTV staff and is published from a syndicated feed.)