Today, the pathology specialist Metropolis Healthcare made a smashing hit debut on the stock exchange with a premium of more than 9% at Rs.960 over Rs.880, and it is dealing on BSE in the list of 'B' Group Securities. The share opened at Rs 960 per share on the BSE over the issue price of Rs 880 per share. The shares touched a low of Rs 934.80 and a high of Rs 981.30 per share as of now.
The issue date was from 3rd April to 5th April 2019, the IPO was subscribed 5.83 times compared to Dr. Lal Path Labs was subscribed 43 times between 8th December to 10th December 2015.
The diagnostic company, which offers approximately 3,487 clinical laboratory tests and 530 profiles, has presence across 19 states and has strong footprints 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.
For the fiscal year ended 31 March 2018, Metropolis reported revenues of Rs. 651.5 crore, up from Rs. 567.6 crore in the previous year. Its profit stood at Rs. 109.7 crore in 2017-18, compared to Rs. 107.2 crore in the previous fiscal year. The most positive attribute about the company is that it is a debt free company.