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Diagnostics company Metropolis Healthcare on Thursday announced a Rs 1,200-crore initial public offer (IPO) that hits the markets on April 3. The company has fixed a price-band in the range of Rs 877-880 per share.
Promoter Sushil Shah will offload 6,272,335 shares, while investor CA Lotus Investments, a part of Carlyle Group, will sell 7,412,760 shares through the IPO, which has reserved 3 lakh shares for employees.
The company will not receive any proceeds from the issue, and Shah said the promoters would utilise the proceeds to retire their debt.
The Carlyle group owns 31 per cent stake in the company and the promoters the rest, which would be diluted by 10-12 per cent each through the IPO.
JM Financial, Credit Suisse, Goldman Sachs, HDFC Bank and Kotak Mahindra Capital are the lead managers to the offer.
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