CA Lotus Investments, an investment arm of Carlyle group, plans to sell 65.51 lakh shares of Metropolis through an accelerated book-build offering of ordinary shares. The floor price of the issue has been fixed at Rs 1,110 a share, which is a 17 per cent discount to the last closing share price of Rs 1,337.55 as on Monday.
The offer size is 13.06 per cent of the outstanding share capital of Metropolis. Currently, CA Lotus holds 71.79 lakh shares or 14.31 per cent stake in the company.
According to sources, the PE firm plans to sell all shares, except for 6,28,213 shares subject to call option arrangement with the promoter.
The PE firm sold 74.12 lakh shares through the Metropolis Healthcare IPO that hit the market last April. Through the sale, Carlyle raised about Rs 650 crore.
The PE firm had acquired the stake in 2015 by buying out G.S.K. Velu, who was former co-promoter of Metropolis.
In line with the general trend, the company's stock, too, has turned volatile in recent times. After hitting an all-time high at Rs 2,110 on the BSE on March 3 this year, the stock crashed to a low of Rs 998 on March 24. But, it managed to recover partly to current levels of Rs 1,340. However, the stock has provided a decent return as against its IPO price of Rs 880.