Report
EUR 88.49
For Business Accounts Only
RCH is a multi-specialty pediatric and obstetrics and gynecology hospital chain in India, operating 14 hospitals and three clinics in six cities, with a total bed capacity of 1,500 beds, as of Sep 21. As per CRISIL, it had the highest number of hospital beds amongst comparable players in the maternity and pediatric healthcare delivery sector, as of Mar 21.
The company started operations in Hyderabad and has since been expanding its presence in other cities. It follows a hub and spoke model in major cities with one super speciality hospital acting as a hub with smaller hospitals in nearby regions acting as spokes. Even as past earnings growth was impacted by COVID-19, the company has continued to grow its hospital footprint and aims to keep doing so over the next few years. However, its earnings appear to still be very dependent on its Hyderabad operations, while some of its rebound in 1H22 earnings was owing to COVID-19.
We have looked at the background of the deal in our earlier note, Rainbow Children’s Hospital Pre-IPO - Still growing but not all regions have been performing and Rainbow Children’s Hospital Pre-IPO - Nearly fairly valued but on less than optimistic assumptions. In this note, we will talk about the trading updates.
Rainbow Children’s Hospital IPO
Rainbow Children’s Hospital (RCH) raised around US$200m via issuing a mix of primary and secondary shares in its India IPO.RCH is a multi-specialty pediatric and obstetrics and gynecology hospital chain in India, operating 14 hospitals and three clinics in six cities, with a total bed capacity of 1,500 beds, as of Sep 21. As per CRISIL, it had the highest number of hospital beds amongst comparable players in the maternity and pediatric healthcare delivery sector, as of Mar 21.
The company started operations in Hyderabad and has since been expanding its presence in other cities. It follows a hub and spoke model in major cities with one super speciality hospital acting as a hub with smaller hospitals in nearby regions acting as spokes. Even as past earnings growth was impacted by COVID-19, the company has continued to grow its hospital footprint and aims to keep doing so over the next few years. However, its earnings appear to still be very dependent on its Hyderabad operations, while some of its rebound in 1H22 earnings was owing to COVID-19.
We have looked at the background of the deal in our earlier note, Rainbow Children’s Hospital Pre-IPO - Still growing but not all regions have been performing and Rainbow Children’s Hospital Pre-IPO - Nearly fairly valued but on less than optimistic assumptions. In this note, we will talk about the trading updates.
Underlying
Rainbow Children's Medicare Ltd
Provider
Aequitas Research
Aequitas Research is a leading ECM research firm with a focus on IPOs and placements/follow-on offerings across the Asia Pacific with deal size of over USD100m.
Since 2015, we have covered 400+ IPOs and 450+ placements with a hit rate of 73% and 65%, respectively. We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic analysis.
Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis. We also provide a more quant driven analysis on placement/follow-on offerings.
Markets that we cover include:
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
Sumeet Singh
Other Reports on these Companies
Other Reports from Aequitas Research
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.