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Metropolis Healthcare IPO

Metropolis Healthcare Limited IPO Full Detail.

Metropolis Healthcare IPO

What does company do?

Metropolis Healthcare is one of the leading diagnostics companies in India, by revenue. Company has widespread presence across 18 states in India with leadership position in west and south India. 

Company has a widespread operational network and offers 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.

During the financial year 2018, Company had conducted approximately 16.0 million tests from approximately 7.7 million patient visits.

Company offers a broad range of approximately 3,480 clinical laboratory tests and 524 profiles.

Company provides services through widespread laboratory and service network, which covers 173 cities in India.

Background & History of the Company

MHL conducts its operations through its laboratory and service network. It has implemented a ‘hub and spoke’ model for quick and efficient delivery of services through its widespread laboratory and service network, which covers 173 cities in India, as of March 31, 2018. As of March 31, 2018, its laboratory network consists of 106 clinical laboratories, comprising (i) a global reference laboratory (“GRL”) located in Mumbai, which is its main ‘hub’ and equipped to conduct majority of the tests offered by it; (ii) 12 regional reference laboratories (“RRLs”) (out of which two are located outside India), which are equipped to conduct routine, semi-specialized and few specialized tests; (iii) 50 satellite laboratories (out of which four are located outside India), which are equipped to conduct routine and semi-specialized tests; and (iv) 43 express laboratories (out of which 11 are located outside India), which are equipped to conduct routine tests.

Company’s International Operations

Company’s revenue from operations outside India was Rs.52.0.7 crores, which accounted for 8.09% of their revenue from operations for the financial year 2018.

Outside India, they have laboratory operations in Ghana, Kenya, Zambia, Mauritius and Sri Lanka.

In addition, Company has also entered into agreements with third parties for collection and processing of specimens in Nepal, Nigeria, UAE and Oman.

As of March 31, 2018, Company has an operational network of 17 clinical laboratories, 28 patient touch points and seven ARCs, outside India.

Object of the Issue

  1. Listing of the Equity Shares will enhance the visibility and brand image of the company.
  2. Provide a public market for the Equity Shares in India.

Watch it till the End

Competitive Strength of the company are

  1. Well positioned for expected industry growth
  2. Widespread operational network
  3. Comprehensive test menu
  4. Focus on quality and customer service
  5. Robust information technology structure

Promoters of the Company

  1. Dr. Sushil Kanubhai Shah
  2. Ameera Sushil Shah
  3. Metz Advisory LLP

Lead Manager of the Company

  1. Credit Suisse, Goldman Sachs,
  2. HDFC Bank, J M Financial
  3. Kotak Mah. Cap.

Registrar of the Company

Link Intime India Private Limited

Company Financial Performance (in INR crore)

 

 

 

 

 

 

 

IPO Issue Details

  • Offer For Sale : 1,36,85,095
  • Issue Size : Net Offer for sale upto 13385,095 Equity Shares aggregating to Rs. 1177.88 Cr
  • Minimum Order : 17 Shares
  • Issue Type : Book Built Issue IPO
  • Total IPO size : Approx Rs. 226 Crore (Approx)
  • Issue Price : ₹ 877-880 Per Equity Share
  • Face Value : ₹ 2 Per Equity Share
  • Minimum investment : Rs 14,960 on higher price band
  • Issue Constitutes : 27.27%
  • Market Cap : Rs. 4415 cr ($630 million)

Allotment Process 

You can contact your share broker and ask them for your allotment.

Listing Performance

  • Finalisation of Basis of Allotment: 10 April 2019
  • Initiation of refunds: 11 April 2019
  • Transfer of shares to demat accounts: 12 April 2019
  • Listing Date: 15 April 2019

Valuations

  • Earnings Per Share (EPS): INR20.49
  • Price/Earnings (PE ratio): 42.80-42.95
  • Return on Net Worth (RONW): 24.66%
  • Net Asset Value (NAV): INR83.58 per share

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