A worker tests a liquid chemical inside of a laboratory. (Photographer: Scott Eisen/Bloomberg)

Metropolis Healthcare Allots Rs 530-Crore Shares To Anchor Investors

Metropolis Healthcare Ltd. allotted units worth Rs 530 crore to anchor investors ahead of its initial public offering.

The diagnostic company finalised allocation 60.2 lakh shares at Rs 880 apiece to anchor investors, according to a statement. Of these, 12.2 lakh shares were allocated to four domestic mutual funds—Aditya Birla Sun Life Mutual Fund, Sundaram Mutual Fund, Edelweiss Mutual Fund and UTI Mutual Fund—across nine schemes.

Units were allotted to 26 anchor investors, including Smallcap World Fund, JP Morgan India Smaller Companies Fund, Sundaram Mutual Fund, among other global fund houses. Smallcap World Fund was allotted nearly 34 percent of the portion reserved for anchor investors—units worth around Rs 180 crore.

Metropolis Healthcare is launching its three-day IPO on April 3 as its promoter and largest investor are looking to pare their holdings. The company aims to raise Rs 1,200-1,205 crore by selling 1.36 crore shares at Rs 877-880 apiece in a pure offer-for-sale, according to its red herring prospectus.

Also read: Metropolis Healthcare IPO: Here’s All You Need To Know