The initial public offering (IPO) of Metropolis Healthcare, the third largest diagnostic company in India by revenue, opens for subscription on Wednesday and the company is aiming to raise around Rs 1,200 crore from the issue.
Metropolis is looking to raise funds from an offer for sale (OFS), which is basically the promoter selling the partial amount of stake as well as Carlyle exiting partial amount of stake also in the company.
That means that the leftover or the proceeds of the fund will not come to Metropolis, rather will be used by the promoters in order to pare down debt which they had taken back in 2015 in a structured deal with KKR in order to buyout Warburg Pincus’ stake within Metropolis.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
