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Rainbow Children's Medicare drops after 14.5% equity changes hands

Rainbow Children's Medicare drops after 14.5% equity changes hands

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By CNBCTV18.com Dec 5, 2022 2:52:55 PM IST (Published)

According to sources, CDC India Opportunities Ltd. (that currently owns a 4.96 percent stake in Rainbow Children’s Medicare) and British International Investment PLC (formerly Known as CDC Group PLC, which owns a 9.49 percent stake) were the two key sellers of the stock on Monday.

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Shares of paediatric hospital chain Rainbow Children’s Medicare Ltd. dropped as much as 3.6 percent in intra-day trade on Monday after huge transactions were seen on the stock counter.


Almost 1.5 crore shares, or 14.8 percent of the company’s equity, worth Rs 1,119 crore changed hands on bourses at an average price of Rs 742 per unit.

According to sources, CDC India Opportunities Ltd. (that currently owns a 4.96 percent stake in Rainbow Children’s Medicare) and British International Investment PLC (formerly Known as CDC Group PLC, which owns a 9.49 percent stake) were the two key sellers of the stock on Monday.

Notably, Rainbow Children’s Medicare pre-IPO lock-in expired on November 5, 2022, leaving 22.7 percent of the company’s shareholding free to be sold.

In October, Rainbow Children’s Medicare told CNBC-TV18 that it aimed to grow by approximately 18 percent this year.

Rainbow Children’s Medicare is a multi-speciality paediatric hospital chain. However, close to around 30 percent of its revenue comes from women’s care, while 70 percent comes from paediatric care. The company deals with paediatric ICU, paediatric tertiary and quaternary care. Its women’s care includes hysterectomy and laparoscopy.

Shares of Rainbow Children’s Medicare are trading at Rs 750.10, down 1.83 percent.

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