On Monday, Metropolis Healthcare made a decent market debut, as the share get listed at Rs 960 on BSE, a 9.09 per cent premium over issue price of Rs 880 per share. At the issue price, the stock was valued at of 39 times FY19 annualized earnings against Dr Lal Path-labs’ 43 times.
The Rs 1,204 crore IPO, which was subscribed 5.83 times, and was sold between April 3 to April 5. Metropolis’ laboratory network consists of 115 clinical laboratories, comprising a global reference laboratory located in Mumbai, 14 regional reference laboratories 56 satellite laboratories and 44 express laboratories.
The diagnostic company, which offers approximately 3,487 clinical laboratory tests and 530 profiles, has presence across 19 states and a leadership position in West and South India through its network of 83 clinical laboratories, 1,473 patient touch points and 396 ARCs (assisted referral centers) in the regions.