Metropolis Healthcare Subsidiary Plans OCRPS Issuance: MQSPL to Transition Status Post-Conversion
Metropolis Healthcare Limited has announced a corporate development involving its subsidiary, Metropolis Quality Solutions Private Limited (MQSPL). The Board of Directors of MQSPL has approved the offer and issuance of Optionally Convertible Redeemable Preference Shares (OCRPS). This move is expected to alter the relationship between the two entities; upon successful subscription and subsequent conversion of these OCRPS into equity shares, MQSPL will cease to be a wholly owned subsidiary but will continue to remain a subsidiary of Metropolis Healthcare Limited.The transaction involves the issuance of 10,000 OCRPS, each having a face value of INR 10/- (Indian Rupees Ten only). The total consideration aggregating for this offer and issuance is INR 1,00,000/- (Indian Rupees One Lakh only).
MQSPL was incorporated on September 15, 2025, under the Indian Companies Act, 2013. As it has not yet commenced its business operations, MQSPL has not contributed to the turnover, revenue, income, or net worth of the parent company.
The proposed allottee for the OCRPS is Dr. Puneet Kumar Nigam, who is a former Chief Quality Officer of the Company and does not belong to the Promoter or Promoter Group. The transaction has been confirmed not to qualify as a related party transaction. Furthermore, it was noted that the process is outside the scope of Scheme of Arrangement.
The conversion of the OCRPS into equity shares at a ratio of 1:1 is subject to fulfilling specific terms and conditions attached to the issuance and will be executed in tranches. The overall timeline for complete conversion is anticipated to take up to 6 years.
Key details regarding the transaction are summarized below:
| Particulars | Details |
|---|---|
| Total OCRPS Offered | 10,000 |
| Face Value per Share | INR 10/- |
| Aggregate Consideration | INR 1,00,000/- |
| Proposed Allottee | Dr. Puneet Kumar Nigam (Former Chief Quality Officer) |
| Conversion Ratio | 1:1 |
| Expected Completion Timeline | Up to 6 years |
METROPOLIS Stock Price Movement
On Thursday, shares of Metropolis Healthcare Limited slipped by 2.52% in the market, settling at ₹540.80 after shedding ₹14.00 from the previous closing price. The stock saw a traded volume of 597,186 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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