Metropolis Healthcare, the third largest listed diagnostic chain, raised Rs 1,204 crore through the public issue which was subscribed 5.84 times earlier this month
Metropolis Healthcare, which debuted on bourses on April 15, hit a record high of Rs 1,005.60 on the NSE after Radhakishan Damani through his firm Bright Star Investment Private Ltd bought 7 lakh shares at an average price of Rs 948.39 on the NSE.
Another fund, Smaller Cap World Fund Inc. also bought 6,86,545 shares of Metropolis Healthcare at an average price of Rs 957.67 on the NSE on April 15.
Metropolis Healthcare, the third largest listed diagnostic chain, raised Rs 1,204 crore through the public issue which was subscribed 5.84 times earlier this month.
Metropolis Healthcare listed at a 9 percent premium to issue price of Rs 880.
After a strong show in the first two days of the listing does it make sense to put in fresh money in Metropolis?
Moneycontrol spoke to several analysts to know what investors should do and most of them said Metropolis Healthcare is a good long-term bet given likely growth in the healthcare sector, company's strong brand name, and strong growth potential.
"Metropolis is available at discount to its listed peer Dr Lal PathLabs based on FY19E earnings. The industry is poised to grow in favour of the organised sector with rising requirement for high-end testing and consolidation in the industry," Nikhil Shetty, Research Analyst - Institutional Research, BP Wealth said.
If one wants to buy, he/she can accumulate the stock below its issue price as it is expected to give double-digit returns in the next one-two years, experts said.
Milin Desai, Analyst, IIFL Securities told Moneycontrol that investors can definitely remain invested for the long term and accumulate in case the price dips below the issue price. One can look at returns of more than 20 percent over the next two years, he added.
