Metropolis Healthcare share price falls 14% after block deals

Truman Slate

Shares of Metropolis Healthcare slumped 14 per cent to Rs 1,152 on the BSE on Wednesday after more than 13 per cent of the company’s equity changed hands via block deals in early morning trade.

At 09:15 am, around 6.76 million shares, representing 13.5 per cent of the healthcare services company’s total equity, changed hands on the BSE, the exchange data shows. The names of the buyers were not ascertained immediately.

According to media reports, private equity giant Carlyle was set to sell stake in Metropolis Healthcare via block deal.

As on December 31, 2019, investor CA Lotus Investments, a subsidiary of US-based private equity firm Carlyle Group, held 7.18 million shares, or 14.31 per cent stake, in Metropolis Healthcare, the shareholding pattern data shows.

The stock has corrected 45 per cent from its all-time high level of Rs 2,110, touched on March 3, 2020. The company had debuted at the bourses in April last year after raising Rs 1,204 crore through its initial public offering (IPO), at issue price of Rs 880 per share.

At 09:30 am, Metropolis Healthcare was trading 10 per cent lower at Rs 1,203 on the BSE, as compared to 1.6 per cent rise in the S&P BSE Sensex. A combined 78.7 million shares have changed hands on the counter on the NSE and BSE so far.

Next Post

Coronavirus LIVE: All agri activities, construction permitted in lockdown

Coronavirus cases in India: Total number of confirmed Covid-29 cases in India has reached 11,487, and 393 people have died from the highly contagious virus so far. Prime Minister Narendra Modi has extended India’s nationwide lockdown till May 3 to contain the spread of coronavirus. Following the announcement, thousands of […]