Carlyle-backed Metropolis Healthcare, a chain of pathology labs and diagnostics services, filed for an initial public offering of up to 1.5 crore shares with the Securities Exchange Board of India (Sebi) on Friday.
The healthcare company would be the fourth from the sector to file for an IPO, following the likes of Dr Lal Pathlabs, Thyrocare Technologies and SRL Diagnostics.
Metropolis Healthcare has expanded its presence across 18 states, particularly in west and south India, under the leadership of its managing director Ameera Shah. In FY18, it conducted approximately 16.0 million tests from approximately 7.7 million patient visits.
The IPO consists of an offer for sale of up to 50 lakh equity shares by promoter Sushil Kanubhai Shah and up to 1.02 crore equity shares by investor CA Lotus Investments. An additional 300,000 equity shares are reserved for subscription by eligible employees.
US-based private equity firm Carlyle Group had acquired about 37 percent stake in Metropolis for nearly Rs 900 crore in 2015.
The book running lead managers are JM Financial ltd, Credit Suisse Securities (India) Pvt. ltd, Goldman Sachs (India) Securities Pvt. Ltd, HDFC Bank ltd and Kotak Mahindra Capital Company ltd.
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