Metropolis Healthcare IPO subscribed 47% on second day

The initial public offering of Metropolis Healthcare has been subscribed 47 percent on April 4, the second day for subscription.

The company launched its initial public offering for subscription on April 3 with a price band of Rs 887-890 per share. The issue will close on April 5.

The 1.37 crore shares public issue consists of an offer for sale of 62.7 lakh shares by the promoter Dr Sushil Kanubhai Shah and of around 74.1 lakh shares by CA Lotus Investments.

The public issue has received bids for 35.73 crore equity shares against offer size of 76.61 crore shares till now.

The qualified institutional buyers portion has subscribed by 65 percent, while non-institutional investors part subscribed 20 percent and retail investors portion subscribed by 70 percent.

On Tuesday, the company raised Rs 530 crore by selling shares to its anchor investors.

The book running lead managers to public issue are JM Financial, Credit Suisse Securities (India), Goldman Sachs (India) Securities, HDFC Bank and Kotak Mahindra Capital Company.

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