Diagnostics company Metropolis Healthcare is planning to raise up to Rs 1,204 crore through initial public offering (IPO).
Metropolis, one of India’s largest diagnostic chains, recently filed its draft papers with market regulator SEBI, making an announcement regarding IPO. It proposes to open its IPO of equity shares on April 3 and close on April 5.
The IPO will be of 1,52,69,684 equity shares, consisting an offer for sale of up to 50,17,868 equity shares by Sushil Kanubhai Shah and up to 1,02,51,816 equity shares by CA Lotus Investments, the draft paper stated.
Founded by Sushil Shah in 1980, the diagnostic company has branches in 18 different States. It offers 4,000 tests at 137 labs and 2,300 service centres across the country.
Services which it offers include clinical diagnostics and reference testing, hospital laboratory management, clinical research and public private partnership and wellness services.