Diagnostics firm Metropolis Healthcare files IPO draft papers with Sebi

Diagnostics company Metropolis Healthcare has filed its draft papers with market regulator Sebi for its initial public offering (IPO).

The IPO is of up to 1,52,69,684 equity shares, consisting an offer for sale of up to 50,17,868 equity shares by Sushil Kanubhai Shah and up to 1,02,51,816 equity shares by CA Lotus Investments, according to the draft red herring prospectus (DRHP) filed with the Sebi.

The objective of the offer are to achieve the benefits of listing the equity shares on the stock exchanges and for the offer for sale, it said.

Further, the company expects that listing of the equity shares will enhance its visibility and brand image and provide liquidity to shareholders. The listing will also provide a public market for the equity shares in India.

JM Financial, Credit Suisse Securities (India), Goldman Sachs (India), HDFC Bank and Kotak Mahindra Capital Company are the managers to the issue.

Shares of the company are proposed to be listed on BSE and NSE.

The company 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.