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    Metropolis IPO Oversubscribed 5.8 Times

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    The initial public offering (IPO) of Metropolis Healthcare was oversubscribed by 5.8 times on Friday, the last day of issue, as per data with the stock exchanges. The IPO that aimed to raise Rs 1,200 crore received bids for 44 million shares as against the issue size of 7.662 million shares. It was open between 3 to 5 April.

    Metropolis IPO Oversubscribed 5.8 Times
     

    The issue consisted entirely of an offer for sale (OFS) of 13.7 million shares at a price band of Rs 877-880 per share. The OFS was made by promoter Dr. Sushil Kanubhai Shah and investor CA Lotus Investments who collectively offered 1,36,85,095 equity shares.

    While the quota for qualified institutional buyers (QIBs) was oversubscribed by 8.8 times, non-institutional and retail investors quotas were oversubscribed by 3.03 and 2.18 times, respectively.

    On Tuesday, 6.024 million shares were allotted to 26 anchor investors at Rs 880 per share to raise about Rs 530 crore. These anchor investors included Small Cap World Fund, Neuberger Berman Emerging Market Equity Fund, JP Morgan India Smaller Companies Fund, Citigroup Global, Eastspring Investments, HSBC Global, Aditya Birla Sun Life, BNP Paribas, Sundaram MF, and Edelweiss MF. 

    Read more about: ipo
    Story first published: Saturday, April 6, 2019, 10:40 [IST]
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