Home IPO Metropolis Healthcare IPO: Metropolis Healthcare IPO subscribed 47% on Day 2

Metropolis Healthcare IPO: Metropolis Healthcare IPO subscribed 47% on Day 2

by TradingETFs.com
NEW DELHI: Metropolis Healthcare’s Rs 1,204 crore initial public offer (IPO) was subscribed 47 per cent on the second day of the issue on Thursday.

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.

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