The IPO received bids for 35,73,400 shares against the total issue size of 76,61,802 units, NSE data showed.
The issue was subscribed 9 per cent on Day 1 on Wednesday.
The company is looking to sell 13,685,095 shares. Of these, promoter Sushil Shah will sell 6,272,335 shares, while investor CA Lotus Investments, a subsidiary of US-based private equity firm Carlyle Group will offload 7,412,760 shares.
The price band has been fixed in the range of Rs 877-880 apiece.
Brokerages are recommending investors to subscribe Metropolis’ IPO from a long-term perspective, on the back of strong growth prospects and fair valuations.
“Metropolis Healthcare has a long runway for growth in our opinion owing to its young network and consolidation opportunities in the Industry,” IIFL Securities analyst Milan Desai said in a note.
Centrum Wealth Research recommended the IPO with a long-term view, saying the issue was fairly priced at the upper end of the price band.
