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    Metropolis Healthcare gains 9% on market debut

    Synopsis

    The Rs 1,204 crore IPO, which was sold between April 3 to April 5, was subscribed 5.83 times.

    Rise-gain---GettyGetty Images
    At the issue price, the stock was valued at of 39 times FY19 annualised earnings against Dr Lal Pathlabs’ 43 times.
    NEW DELHI: Metropolis Healthcare on Monday made a decent market debut, as the scrip got listed at Rs 960 on BSE, a 9.09 per cent premium over issue price of Rs 880 per share.

    The scrip closed at Rs 959.55, up 9.04 per cent with respect to its issue price.

    The Rs 1,204 crore IPO, which was sold between April 3 to April 5, was subscribed 5.83 times.

    At the issue price, the stock was valued at of 39 times FY19 annualised earnings against Dr Lal Pathlabs’ 43 times.

    Metropolis’ laboratory network consists of 115 clinical laboratories, comprising a global reference laboratory located in Mumbai, 14 regional reference laboratories 56 satellite laboratories and 44 express laboratories.

    The diagnostic company, which offers approximately 3,487 clinical laboratory tests and 530 profiles, has presence across 19 states and a leadership position in West and South India through its network of 83 clinical laboratories, 1,473 patient touch points and 396 ARCs (assisted referral centres) in the regions.

    The revenue from operations rose at a CAGR of 16.3 per cent to Rs 643.6 crore from FY16 to FY18, while profits climbed at a CAGR of 15.7 per cent to Rs 109.7 crore. The company is debt free.

    In nine months to December 31, 2018, the diagnostic company conducted 12.3 million tests on 6.6 million patients compared with 16 million tests on 7.7 million patients in in the entire FY18.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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