Metropolis Healthcare Limited is one of the leading diagnostics companies in India, by revenue, as of March 31, 2018 (Source: Frost & Sullivan). Company have widespread presence across 19 states in India, as of December 31, 2018, with leadership position in west and south India (Source: Frost & Sullivan). Company offer a comprehensive range of clinical laboratory tests and profiles, which are used for prediction, early detection, diagnostic screening, confirmation and/or monitoring of the disease. Company also offer analytical and support services to clinical research organizations for their clinical research projects.
Company offer a broad range of approximately 3,487 clinical laboratory tests and 530 profiles, as of December 31, 2018. The profile comprises of a variety of test combinations which are specific to a disease or disorder as well as wellness profiles that are used for health and fitness screening. Company classify its tests into (i) ‘routine’ tests such as blood chemistry analyses, blood cell counts and urine examination; (ii) ‘semi-specialized’ tests such as thyroid function tests, viral and bacterial cultures, histology, cytology and infectious disease tests; and (iii) ‘specialized’ tests such as tests for coagulation studies, autoimmunity tests, cytogenetics and molecular diagnostics.
Company conduct its operations through its laboratory and service network. Company have implemented a ‘hub and spoke’ model for quick and efficient delivery of services through its widespread laboratory and service network, which covers 197 cities in India, as of December 31, 2018. As of December 31, 2018, our laboratory network consists of 115 clinical laboratories, comprising (i) a global reference laboratory (“GRL”) located in Mumbai; (ii) 14 regional reference laboratories (“RRLs”); (iii) 56 satellite laboratories; and (iv) 44 express laboratories.
Company has been awarded the tender by the National Aids Control Organization (“NACO”) to collect specimens from 525 government-owned antiretroviral therapy (ART) centers and conduct HIV-1-Viral load tests. Company also offer analytical services and support services such as logistics and electronic data interchange (“EDI”) to contract research organizations for their clinical research projects.
- Rs. 1200.18 cr - Rs. 1204.29 cr
- QIB- 75%, NIB- 15%, Retail- 10%, employee reservation- 3,00,000 shares
- Rs. 2 per equity share
- NSE & BSE
- Link Intime India Private Limited.
- 17 Equity shares & multiple of 17 Equity shares thereafter.
- ASBA mandatory (no cheques will be accepted)
- Well positioned for expected industry growth
- Widespread operational network
- Comprehensive test menu
- Focus on quality and customer service
- Robust information technology structure
Listing of the equity shares will enhance the visibility and brand image of the company.
Provide a public market for the equity shares in India
An initial public offering (IPO)/public issue is when an unlisted company makes either a fresh issue of securities or an offer for sale of its existing securities or both for the first time to the public. This paves the way for listing and trading of the issuer’s securities.
The shares are initially issued in the primary market at an offering price determined by the lead manager(s)/the merchant banker(s) to the IPO.
The primary market consists of a syndicate of investment banks and broker dealers that the lead managers assemble and that allocate shares to institutional, high net worth individuals (HNI) and individual/retail investors.
As far as IPOs are concerned, a price band is a value-setting method whereby a seller indicates an upper and lower cost range, between which the buyers/investors are able to place their bids. The price band's floor and cap provide guidance to the buyers.
It is up to the company to decide on the IPO price or the price band, in consultation with the lead managers.
The basis of IPO price is disclosed in the offer document. The issuer is required to disclose in detail about the qualitative and quantitative factors justifying the IPO price.
The IPO price is normally based on such factors as the company’s financials, products and services, income stream as well as the demand for the shares and current market conditions.
The lead managers must determine a fair offering price, which takes into consideration the need for the company to raise capital while offering the new issue at a price which represents a fair value of the shares.
A Red Herring Prospectus (RHP) is a document submitted by a company (issuer) as part of a public offering or an IPO of securities (either stocks or bonds).
A retail individual investor means an investor who applies or bids for securities of or for a value of not more than Rs 2,00,000.
Yes. He can bid in a book-built IPO for a value not more than Rs 2,00,000. Any bid made in excess of this will be considered in the HNI category.
Yes. Investors can change or revise the quantity or price in the bid using the form for changing/revising the bid that is available along with the application form. However, the entire process of changing or revising the bids shall be completed before the IPO closes.
In case of fixed price issues, investors are intimated about the CAN/Refund order within 10 days of the closure of the IPO.
In case of book built IPOs, the basis of allotment is finalised by the book-running lead managers within two weeks from the closure of the issue. The registrar then ensures that the demat credit or refund as applicable is completed within 6 working days of the closure of the issue.
In the case of book-built issues, the exchanges (Bombay Stock Exchange/National Stock Exchange) display the data regarding the bids obtained (on a consolidated basis between both these exchanges).
The data regarding the bids is also available category-wise.
Investors are entitled to receive a Confirmatory Allotment Note (CAN) in case they have been allotted shares within 6 working days from the closure of a book Built issue. The registrar has to ensure that the demat credit or refund as applicable is completed within 6 working days of the closure of the book-built issue.
The lead managers also publish an advertisement at least in an English national daily with wide circulation, one Hindi national paper and a regional language daily circulated at the place where registered office of the issuer company is situated.
The listing on the stock exchanges is done within seven days from the finalisation of the issue.
Ideally, it would be around three weeks after the closure of the book-built issue.
In case of fixed price issue, it would be around 10 days after closure of the issue.