The IPO market has been going through a rather dry spell this year.

US firm Constellation Alpha had earlier agreed to buy the Indian diagnostic chain, but deal fell through.

The Rs 1,204 crore IPO, which was sold between April 3 to April 5, was subscribed 5.83 times.

The quota for qualified institutional buyers (QIBs) was over subscribed 8.8 times.

The IPO received bids for 89,98,678 shares against the total issue size of 76,61,802 units.

The IPO received bids for 35,73,400 shares against the total issue size of 76,61,802 units.

The issue saw bids for 6,68,593 shares till 4.25 pm against the total issue size of 76,61,802 units.

Its Rs 1,204-crore initial public offer (IPO) opened for subscription on Wednesday.

The price band for the IPO has been fixed in the range of Rs 877-880 per share.

The price band has been fixed in the range of Rs 877-880 per share.

In a highly fragmented, competitive, regional market, Metropolis is an organised national player.

Te total companies getting clearance from the Sebi to launch IPO has reached 73 this year.

Shares of the company are proposed to be listed on BSE and NSE.

The diagnostic market in India is about $8 bn, and growing at a CAGR of 12 per cent.

Metropolis has adopted a string of pearls strategy by either partnering or acquiring smaller brands in newer markets.

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