MUMBAI: Metropolis Healthcare, which runs a diagnostics chain across India, closed its initial public offering with a subscription of close to six times, with both the institutional as well retail books oversubscribed. NSE data showed 5.83 times subscription by the end of the day.
It had an anchor investor book of Rs 530 crore, with 26 anchor investors including several domestic mutual funds subscribing to the issue before it opened for public subscription.
Promoters Dr Sushil Kanubhai Shah and Carlyle Group’s CA Lotus Investment offloaded 6,272,335 and 7,412,760 of their stakes respectively through the IPO that opened on April 3. Equity shares with a face of Rs 2 each were offered in the price band of Rs 877 and Rs 880 per share.
The 2019-20 fiscal has opened on a strong note for the equity markets – even as the stock indices surged to a new high on strong foreign fund flows, domestic firms have hit the market quickly taking advantage of the improved sentiment.