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Metropolis Healthcare IPO Opens On 3 April; Find Details Here
The first initial public offering (IPO) of the financial year 2019-20 is here. Metropolis Healthcare will issue its IPO on 3 April. The equity shares of the diagnostics company is proposed to be listed on BSE as well as NSE.
Details
- The offer for sale is being made by promoter Dr. Sushil Kanubhai Shah and investor CA Lotus Investments.
- Collectively they are offering 1,36,85,095 equity shares at a price band of Rs 877-880 per share.
- Up to 3 lakh shares will be reserved for subscription by eligible employees.
- The minimum lot size for bidding is 17 equity shares and in multiples of 17 thereafter.
- The issue is expected to fetch Rs 1,204.3 crore at upper end of the offer.
- It is an offer for sale, which means the proceeds would go to the selling shareholders and not Metropolis Healthcare.
- JM Financial, Credit Suisse Securities (India), Goldman Sachs (India) Securities, HDFC Bank and Kotak Mahindra Capital Company will be the book running lead managers to the public issue.
- The issue closes on 5 April.
Company profile
Metropolis Healthcare offers clinical laboratory tests which are used for early detection and diagnostic screening of disease. It also provides analytical and support services for research projects of clinical organizations.
It has a presence in 19 states and has offered approximately 3,487 clinical laboratory tests and 530 profiles as of 31 December 2018. The company also has operations in Ghana, Kenya, Zambia, Mauritius, and Sri Lanka.
Revenue from operations grew from Rs 475.47 crore to Rs 643.57 crore between FY 2016 and FY 2018, and profit for the years grew from Rs 81.95 crore to Rs 109.75 crore, respectively.
