Metropolis IPO to open on April 3 at price band of Rs 877-880

Metropolis IPO to open on April 3 at price band of Rs 877-880

Metropolis Healthcare, one of the leading diagnostics companies in India by revenue, said on Thursday (March 28) that its initial public offering (IPO) of equity shares will be opened on April 03, at a price band of Rs 877 to Rs 880 per share.

The IPO consists of 13,685,095 equity shares of face value of Rs. 2 each consisting of an Offer for Sale of up to 6,272,335 equity shares by Dr. Sushil Kanubhai Shah, the promoter, and up to 7,412,760 equity shares by CA Lotus Investments, one of the investors of the company. The IPO includes a reservation of up to 300,000 equity shares for subscription by eligible employees (Employee Reservation Portion). The closing date of the open offer is on April 05, 2019.

The company said in a press statement on Thursday that the price band for the offer is from Rs. 877 to Rs. 880 per equity share. The bids can be made for a minimum lot of 17 equity shares and in multiples of 17 equity shares thereafter. The shares of the company, after the successful closure of the offer, will be listed on BSE and NSE.

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