Rainbow Children’s Medicare share sale via initial public offering (IPO) opened for subscription today and will close on April 29. The company is selling shares in the price band of Rs 516-542 per share to raise Rs 1,580.85 crore from the share sale. Rainbow Children’s Medicare IPO comprises of fresh issue of Rs 280 crore and an offer for sale (OFS) of Rs 1,300.85 crore. Under the OFSits private equity investors, promoter and other shareholders will sell 2.4 crore shares at the upper end of the price band at Rs 542 per share.