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Metropolis Healthcare lists at premium, surges 9% over issue price on market debut

BusinessToday.In     April 15, 2019

Shares of Metropolis Healthcare got listed at a premium of 8.86 per cent at Rs 958 per share on the National Stock Exchange and a 9.09 per cent premium at Rs 960 on the Bombay Stock Exchange, compared to its issue price of Rs 880 apiece.

At 1:00 pm, shares of the diagnostics chain later rose as much as 11.32  per cent to Rs 979.80 on NSE and jumped 11.3 per cent to Rs 979.70 on BSE. The price range for the Rs 1,200-crore IPO was fixed at Rs 887-880 per share.

Metropolis Healthcare's IPO of 1,36,85,095 equity shares, was subscribed 5.83 times, driven by strong subscription from qualified institutional investors.

Metropolis Healthcare (MHL), one of the leading diagnostics companies in India, by revenue, offers clinical laboratory tests which are used for early detection and diagnostic screening of diseases.

Metropolis Healthcare has a widespread presence across 18 states in India, with a leadership position in the west and south India. The company offers a broad range of approximately 3,480 clinical laboratory tests and 524 profiles.

At 1:00 pm, the stock is trading at Rs 965.85 on BSE and at the Rs 966.80 on NSE. On the volume front, 3.6 lakh shares are currently changing hands on BSE and over 52.67 lakh shares on the NSE.

(Edited by Rupa Burman Roy)

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