Metropolis Healthcare IPO – Complete Review, Allotment & Subscription
Last Updated Date: Nov 18, 2022Metropolis Healthcare Limited is one of the leading diagnostics companies in India. Metropolis Healthcare IPO comprises of 15,269,684 Equity shares, face value of Rs.2 each. Let’s have a detailed review of the company and analytics of the Metropolis Healthcare IPO release date, IPO offer price, subscription, Metropolis Healthcare IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
- Issue Price of this IPO is Rs 877 – Rs 880 . Check the Live Share Price here Metropolis Healthcare Share Price
- To track the performance of this IPO, click on this link – IPO Performance
Metropolis Healthcare IPO Review & Ratings
| IPO Ratings & Review | |
| Criteria | Ratings |
| Industry Sentiments | 8.5/10 |
| Industry Ranking | 7.8/10 |
| Company Background | 7.9/10 |
| Company Reputation | 7.9/10 |
| Competitive Edge | 7.7/10 |
| Financial Statements | 7.8/10 |
| Popularity Index | 8.4/10 |
| Promoters Reputation | 7.7/10 |
| Retail Appetite | 7.9/10 |
| Top Brokers Review | 7.9/10 |
| Overall Ratings | 8.1/10 |
| Star Ratings | ★★★★☆ |
Summary of Metropolis Healthcare IPO
Metropolis Healthcare Limited is one of the leading diagnostics companies in India, by revenue, as of March 31, 2019. They have widespread presence across 18 states in India, as of March 31, 2019, with leadership position in west and south India. Through their widespread operational network, we 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. The Issue comprises of a Public Issue of 13,685,095 Equity shares of face value of Rs.2.00 each fully paid up.
From FY 2014-15 to FY 2018-2019, as per the Restated Financial Statements:
| Ebitda (Rs Crore) | Ebitda Margin (%) | Profit After Tax (Rs Cr) | Net Worth (Rs Crore) | |
| FY16 | 131 | 27.5 | 81.9 | 279 |
| FY17 | 164 | 30.1 | 107.3 | 323 |
| FY18 | 173 | 26.9 | 109.7 | 415 |
| 9MFY19 | 142 | 25.4 | 88.8 | 468 |
From fiscal 2016 to 2017, company’s revenue from operations and net profit has increased at a growth rate of 14.57% and 25.74%, respectively.
For the period ended March 31, 2018, FY 2016-17 and FY 2015-16, its revenue from operations was Rs. 6,435.67 Millions, Rs. 5,447.24 Millions and Rs.4,754.69 Millions, respectively representing growth of 14.57% from the FY 2015-16 to FY 2016-17. For the period ended March 31, 2018, FY 2016-17 and FY 2015-16 our net profit was Rs. 1,097.47 Millions, Rs. 1,072.57 Millions and Rs. 819.55 Millions, respectively, representing a growth of 25.64% from the FY 2015-16 to FY 2016-17.
- During the financial year 2017-18 the Other Income of our company increased to Rs.79.88 Millions as against Rs. 229.35 Millions for the financial year 2016-17 .
- Company’s Net Profit after tax for the year 2016-17 is Rs. 1,105.40 Millions from the year 2015-16 of Rs. 1,075.16 Millions showing an increase of 2.79% from last year, showing remarkable performance.
The Promoter of this company is Dr. Sushil Kanubhai Shah, Ameera Sushil Shah and Metz Advisory LLP. The lead manager to the issue is JM Financial Limited, Credit Suisse Securities (India) Private Limited , Goldman Sachs (India) Securities Private Limited, HDFC Bank Limited and Kotak Mahindra Capital Company Limited and the Registrar to this issue is Link Intime India Private Limited .
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Metropolis Healthcare IPO Date
The opening and the closing date of Metropolis Healthcare Limited IPO is Apr 3, 2019 – Apr 5, 2019.
Metropolis Healthcare IPO Subscription
| Day / Date | QIB | NII | RII | Employee | Total Subscription |
| 1st Day – Apr 3 | 0.09x | 0.00x | 0.23x | 0.00x | 0.09x |
| 2nd Day – Apr 4 | 0.65x | 0.02x | 0.70x | 0.01x | 0.47x |
| 3rd Day – Apr 5 | 8.88x | 3.03x | 2.15x | 0.05x | 5.83x |
| Shares Offered or Net Issue | 4,015,529 | 2,007,764 | 1,338,509 | 300,000 | 7,661,802 |
The shares subscribed by the public will be updated here.
Metropolis Healthcare IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
| Basis of Allotment Finalization | 10-Apr-19 |
| Refunds Initiation | 11-Apr-19 |
| Credit of Shares to Demat Account | 12-Apr-19 |
| Share Listing Date | 15-Apr-19 |
Metropolis Healthcare IPO Price Band
The face value of each share is Rs 10, but the price band of the IPO is Rs 877 – Rs 880.
Metropolis Healthcare IPO Equity Share Offering
13,685,095 Equity Shares at price band price band of the IPO is Rs 877 – Rs 880, aggregating up to Rs 1,204.29 Crores. The Market Lot or the Minimum Order Quantity is 17 Shares. The listings on both BSE and NSE.
Metropolis Healthcare Limited – Company Overview
Metropolis Healthcare Limited is one of the leading diagnostics companies in India, by revenue, as of March 31, 2018. They have widespread presence across 18 states in India, as of March 31, 2018, with leadership position in west and south India (Source: Frost & Sullivan). Through their widespread operational network, we 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.
According to Frost & Sullivan, the Indian diagnostics market was valued at approximately Rs. 596 billion in the financial year 2018, and is projected to grow to approximately Rs. 802 billion by financial year 2020, driven by favorable changes in demographics, improvements in health awareness, increased spend on preventive care and wellness, increase in medical tourists, increase in lifestyle-related ailments and rising penetration of insurance in India.
The Company believe that the increasing prescription of diagnostic tests and services by healthcare providers in India, combined with the increasing awareness and spend on preventive care and wellness tests as well as a shift from the unorganized providers to the organized providers in the Indian diagnostics market creates a significant market opportunity for them.
Competitive Strengths of Metropolis Healthcare Limited:
- One of the leading diagnostics companies in India which is well positioned to leverage the expected growth in the Indian diagnostics industry
- Experienced Senior Management Team and Qualified Operational Personnel
- Established track record of successful acquisition and integration in India and overseas
- Robust Information Technology Infrastructure with Focus on Improving Efficiency
Business strategies of Metropolis Healthcare Limited:
- Continue to Focus on Organic Growth Initiatives to Expand their Reach
- Continue Focus on Providing Quality Tests and Services
- Focus on the Expansion of Our Service Network
- Focus on Increasing their Business from Individual Patients
- Pursue New Avenues of Growth
- Focus on Consolidation Opportunities in a Largely Unorganized Diagnostic Sector
Metropolis Healthcare Limited – Financial Statements
A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:
Metropolis Healthcare Limited Financial Summary:
| Amount (in INR & Millions) | ||||
| 31-Dec-18 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | |
| Total Assets | 5,838.75 | 5,303.39 | 5,151.58 | 3,959.15 |
| Total Revenue | 5,593.06 | 6,515.55 | 5,676.59 | 4,906.34 |
| Total Expense | 4,311.55 | 4,912.54 | 4,103.91 | 3,664.22 |
| Profit After Tax | 887.71 | 1,097.47 | 1,072.57 | 819.55 |
Earnings per Equity Share (in Millions)
| 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | |
| Basic & Diluted | 20.61 | 20.48 | 15.25 |
From the above statements, one could find that the Metropolis Healthcare Limited may perform well.
Metropolis Healthcare IPO – Promoters
The Promoter of this company are:
- Dr. Sushil Kanubhai Shah
- Ameera Sushil Shah
- Metz Advisory LLP
Metropolis Healthcare Limited Promoter Holdings:
- Pre Issue Share Holding is around 99.71%
- Post Issue Share Holding is around 49.44%
List of Related Parties (Key Managerial Personnel)
- Dr. Sushil Kanubhai Shah
- Ameera Sushil Shah
- Sanjay Bhatnagar
- Metz Advisory LLP
Interest in promotion of the Company
Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.
Property Interest
The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.
Interest in Intellectual Rights of the Company
Promoters has not shown any interest in acquiring the intellectual rights of the company.
Metropolis Healthcare IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 13,685,095 Equity Shares |
| Of which: | |
| Reserved for Market Makers | Up to 300,000 Equity Shares |
| Net Issue to the Public | Up to 13,685,095 Equity Shares |
| Of which: | |
| Retail Investors Portion | Not more than 2,007,764 Equity Shares |
| Non-Retail Investors Portion | Not more than 1,338,509 Equity Shares |
| Equity Shares outstanding prior to the Issue | 50,178,680 Equity Shares |
| Equity Shares outstanding after the Issue | 50,178,680 Equity Shares |
Metropolis Healthcare IPO – Basis of the Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- One of the leading diagnostics companies in India which is well positioned to leverage the expected growth in the Indian diagnostics industry;
- Widespread operational network, young patient touch point network and asset light growth of service network;
- Comprehensive test menu with wide range of clinical laboratory tests and profiles;
- Strong and established brand with a focus on quality and customer service;
- Robust information technology infrastructure with focus on improving efficiency;
- Established track record of successful acquisition and integration in India and overseas;
- Experienced senior management team and qualified operational personnel.
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-16 | 15.25 | 30.90 | – |
| 31-Mar-17 | 15.98 | 29.72 | – |
| 31-Mar-18 | 16.86 | 23.76 | 70.94 |
- Competitive Peers:
| Particulars | Face Value (in Rs.) | EPS (In Rs.) | P/E Ratio | RONW (%) | NAV (In Rs.) |
| Dr. Lal Pathlabs Limited | 10 | 20.82 | 45.06 | 21.61 | 96.93 |
Metropolis Healthcare IPO Lead Managers
| Lead Managers |
| JM Financial Limited
Credit Suisse Securities (India) Private Limited Goldman Sachs (India) Securities Private Limited HDFC Bank Limited Kotak Mahindra Capital Company Limited |
Metropolis Healthcare IPO Registrar to offer
| Registrar to the Offer |
| LINK INTIME INDIA PRIVATE LIMITED C-101, 1st Floor, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai – 400 083, India Tel: +91 22 49186200; Fax: +91 22 4918 6195 Website: www.linkintime.co.in Email: electra.ipo@linkintime.co.in Investor Grievance Id: electra.ipo@linkintime.co.in Contact Person: Shanti Gopalkrishnan SEBI Registration Number: INR000004058 |
Other Details:
- Statutory Auditor – B S R & Co. LLP, Chartered Accountants
- Peer Review Auditor – B S R & Co. LLP, Chartered Accountants
- Bankers to the Company – Axis Bank Limited ,HDFC Bank Limited
Metropolis Healthcare IPO Review by Top 10 Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
Metropolis Healthcare IPO Grey Market Premium
The Metropolis Healthcare IPO Grey Market Premium price is Rs 95-100, the Kostak rate is Rs 300 and the Subject to Sauda is X.
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Metropolis Healthcare IPO News
News 1 – IPO ISSUE OPENS SOON (Download Prospectus)
News 2 – Download Metropolis IPO RHP
News 3 – MHL ASBA PDF
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