This post on Metropolis Healthcare IPO tries to bring out consolidated brokerage views , subscription information, Grey Market Premium (GMP) and anchor investor information where applicable. The information collated from various sources and reports in public domain can help investors to decide whether they should subscribe to Metropolis Healthcare IPO or not.
Metropolis Healthcare IPO : Grey Market Premium etc.
- 04-04-19 GMP has moved down and few buyers
- 02/04/19 Grey Market Premium : Rs 70 (not many deals)
Subscription: Metropolis Healthcare IPO ( x times)
Metropolis Healthcare IPO: Anchor Investors
Metropolis Healthcare raised ₹530 crore from anchor investors. The company allotted 60,23,293 equity shares to 26 anchor investors at ₹880 per equity share. The anchor investors include Small Cap World Fund, Fundsmith Emerging Equities Trust, Sundaram Mutual Fund, UTI Equity Fund, Edelweiss Crossover Opportunities Fund etc.
Consolidated Brokerages Views on Metropolis Healthcare IPO
BP Wealth: ” Though the issue appears fully priced, asset light and debt free status makes this offer lucrative. Considering the superior band trust, strong growth potential in underpenetrated tier2 tier3 cities coupled with better margins, we give a “SUBSCRIBE” rating on this issue for the long term investors. “
Capital Market: ” Score 43/100, At higher price band of Rs 880, the offer is made at around 43.2 times its FY 2018 consolidated EPS of Rs 20.4 on a current equity share capital of Rs 10.04 crore of face value of Rs 2 each. Dr Lal Pathlabs, Thyrocare Technologies are listed comparable companies.”
Choice Broking: ” “AVOID” to Metropolis Healthcare Ltd. Fully priced issue, anticipating pricing pressure in near term. At the higher price band of Rs. 880 per share, MHL’s share is valued at a P/E multiple of 43.2x (to its restated FY18 EPS of Rs. 20.4), which is at a premium to its peer average of 40.7x.”
Dalal Street Journal: ” Dr Lal Pathlabs is trading at a current PE of 51.34 times compared to MHL offer at a PE of 43x. Looking at the other financial parameters such as OPM and NPM, both companies enjoy the same margin. Looking at the comparative lower valuation compared to its listed peers, better-operating metrics, we recommend our readers to invest with limited exposure. “
Sharekhan: “At current valuation, there is a little upside in the near term, but that can be looked at as an investment option for the medium- to long-term investment horizon”
SMC : “ Rating 3.5/5; With fundamentals such as widespread operational network, young patient touch point network, Strong and established brand with a focus on quality and customer service and asset light growth of service network, the company is expected to see good growth going forward. Moreover, the company has shown good revenue growth in the last 5 years. It is a debt free company. Investor should opt the issue. “
SP Tulsiyan website: “Given company’s expected growth trajectory especially in the B2C segment, robust financial strength and reasonable pricing, the IPO is a subscribe.