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Diagnostic chain Metropolis Healthcare Ltd is considering an initial public offering.
According to a Bloomberg report, the company plans to raise Rs 1,500 crore through an IPO to fund acquisitions. Part of the funds raised would also be used to buy out Carlyle's stake in Metropolis, the report added. The Carlyle group had picked up stake in Metropolis in 2015 for an undisclosed sum.
The company's promoter and Managing Director, Ameera Shah, told Bloomberg that the share sale would be a combination of promoters shares and new shares.
In expansion mode
Earlier this year, Metropolis had said it plans to add 800 collection centres and around 10 laboratories by the end of FY19. The company currently has 150 labs with 1,800 collection centres. It is also looking to grow its presence in the northern and eastern markets.
Indian diagnostics industry is highly fragmented with nearly half the market share held by standalone players. The The listed companies in this segment include Dr Lal Pathlabs and Thyrocare Technologies.
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