Diagnostics services provider Metropolis Healthcare public offer to raise up to Rs 1,200 crore opens for subscription today. As a part of its public offer, Metropolis Healthcare will be selling 1.36 crore shares at Rs 877-880 apiece in a pure offer-for-sale, according to the firm’s prospectus. Accordingly, the firm will not receive any proceeds from the issue.
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. Even as investors maybe mulling whether to subscribe to the issue, we take a closer look at what brokerages have to say.
Metropolis Healthcare is one of the leading diagnostics companies in India by revenue, according to IDBI. Further, it has widespread presence across 19 states in India with leadership position in west and south India. The firm is connected to 119 cities in India through ‘hub and spoke’ model which comprises central reference lab in Mumbai and 115 clinical labs across key cities.