Metropolis Healthcare attracts modest premium on debut

Settle at Rs 959.55 on BSE, a premium of 9.04% over the initial public offer price of Rs 880.

Meanwhile, the S&P BSE Sensex was up 138.73 points, or 0.36% to 38,905.84

Shares of Metropolis Healthcare settled at Rs 959.55 on BSE, a premium of 9.04% over the initial public offer price of Rs 880. The stock debuted at Rs 960 on BSE, a premium of 9.09% to the initial public offer (IPO) price of Rs 880. It hit a high of Rs 981.30 and low of Rs 934.80. On BSE, 6.13 lakh shares were traded on the counter.

The initial public offer (IPO) of Metropolis Healthcare received bids for 4.47 crore shares, as per the National Stock Exchange of India (NSE) data. The issue was subscribed 5.84 times. The issue opened for subscription on 3 April 2019 and closed on 5 April 2019. The price band for the issue was fixed at Rs 877 to Rs 880 per share.

The qualified institutional buyers (QIBs) category was subscribed 8.88 times. The non-institutional investors category was subscribed 3.03 times. The retail individual investors (RIIs) category was subscribed 2.21 times.

On a consolidated basis, Metropolis Healthcare reported net profit of Rs 85.66 crore and net sales of Rs 559.31 crore in nine-months ended December 2018.

Incorporated in 1980 by Dr. Sushil Shah, Metropolis Healthcare is one of the leading diagnostics companies in India. 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. Metropolis also offers analytical and support services to clinical research organizations for their clinical research projects. The company has presence across 19 states in India, as of 31 December 2018, with leadership position in the West and South India.

Powered by Capital Market - Live News