Metropolis Healthcare IPO for Rs 1,200 crore opens tomorrow; here’s all you need to know

By: |
Published: April 2, 2019 4:53:20 PM

Diagnostics services provider Metropolis Healthcare public offer to raise up to Rs 1,200 crore will open for subscription tomorrow. We take a closer look.

RVNL, Public Sector Enterprise, Rail Vikas Nigam, IPO, RVNL IPO, IPO Launched, initial public offering, Investors, Investors What Should Do In RVNL IPOThe company will be selling 1.36 crore shares at Rs 877-880 apiece in its offer-for-sale, according to the firm’s prospectus.

Diagnostics services provider Metropolis Healthcare public offer to raise up to Rs 1,200 crore will open for subscription tomorrow. The company will be selling 1.36 crore shares at Rs 877-880 apiece in its offer-for-sale, according to the firm’s prospectus. Since, the public issue is a pure offer for sale, the firm will not receive any proceeds from the issue.

Promoter Sushil Kanubhai Shah will be selling 62.70 lakh shares, while CA Lotus Investments—a subsidiary of U.S.-based private equity firm Carlyle Group—will be selling up to 74.10 lakh shares, as part of the public offer.  Notably, the offer includes a reservation of up to 300,000 shares for subscription by Eligible Employees (the “Employee Reservation Portion”). Therefore, the net offer aggregates up to 13,385,095 shares. Metropolis Healthcare has set a price band of 877-880 per share. The firm has set a bid lot of 17 equity shares and in multiples of 17 equity shares thereafter. The issue opens for subscription on April 3rd, and will close on April 5th.

Also read: Sensex journey from 100 to 39,000 in just 40 years; ten landmarks

The Book Running Lead Managers include JM Financial Limited, Credit Suisse Securities (India) Private Limited, Goldman Sachs (India) Securities Private Limited, HDFC Bank and Kotak Mahindra Capital. The objects of the Offer are to achieve the benefits of listing the Equity Shares on the Stock Exchanges and for the Offer for Sale.

Metropolis Healthcare is among leading diagnostics companies in India by revenue. According to a report by Frost & Sullivan, Metropolis Healthcare, the firm has a leadership position in west and south India. Through its operational network, Metropolis offers a comprehensive range of clinical laboratory tests and profiles, which are used for prediction, early detection, diagnostic screening, confirmation and/or monitoring of the disease, said the firm’s website. During the financial year 2018, Metropolis conducted approximately 16 million tests from approximately 7.7 million patient visits.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1Sensex at 39,000? No, it’s actually 56,000
2Rupee slips 22 paise against US dollar in early trade
3What will steer Sensex, Nifty today: SC on Feb 12 circular, PMI data and other key factors to watch out for