01 May 2016

Thyrocare IPO oversubscribed 73x

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Thyrocare Technologies Limited
Sr.No.CategoryNo.of shares offered/reservedNo. of shares bid for - NSENo. of shares bid for
1Qualified Institutional Buyers (QIBs)2148942104813115157252095
1(a)Foreign Institutional Investors(FIIs)5494252569781041
1(b)Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies)2187220256655720
1(c)Mutual funds2208812123581503
2Non Institutional Investors1611707139576470363122892
2(b)Individuals(Other than RIIs)85942890176932305
3Retail Individual Investors(RIIs)37606481298068232822724
3(a)Cut Off1056765628670598
3(b)Price bids24130264152126

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Mirroring strong investor demand, the initial public offering (IPO) of diagnostics company Thyrocare Technologies was oversubscribed 73.46 times on the last day of the offer on Friday. The Rs 479.21-crore IPO received bids for 55.25 crore shares against the total issue size of 75,21,297 shares, as per data available till 1900 hrs. The category reserved for qualified institutional buyers (QIBs) was oversubscribed 73.18 times, while non-institutional investors received 225.30 times subscription. Retail investors portion was also oversubscribed 8.55 times. The firm, which runs a diagnostics laboratory chain, has come out with a public issue of up to 10,744,708 shares of Rs 10 each. It has fixed a price band of Rs 420-446 for the issue. The company will garner around Rs 479.21 crore at the upper end of the price band. Thyrocare has raised Rs 144 crore through issuance of shares to 15 anchor investors. The shares are proposed to be listed on NSE and BSE. The issue is being managed by JM Financial Institutional Securities, Edelweiss Financial Services and ICICI Securities. Thyrocare competes with diagnostics chains such as Dr Lal PathLabs, SRL Diagnostics, Metropolis Healthcare and Apollo Clinic.

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