There was a brand new debut on the bourses today morning, Metropolis Healthcare. As against the IPO price of Rs.880, the stock got listed on the BSE at Rs.960, a premium of over 9%.
The IPO had garnered Rs.1204 crore via the public issue and it was subscribed almost 6 times. This was mainly on the back of demand from qualified institutional investors.
Metropolis Healthcare is India’s 2nd largest diagnostic chain (behind Dr. Lal Pathlabs) offering 3,487 clinical laboratory tests (routine, semi-specialized and specialized tests) and 530 profiles.
In our New Issue Analysis, we had recommended the issue and said, “Given company’s expected growth trajectory especially in the B2C segment, robust financial strength and reasonable pricing, the IPO is a subscribe.”