Thy­ro­care IPO Sub­scribed 73.46X

The Economic Times - - Markets: Beating Volatility - Our Bureau


Mum­bai: Di­ag­nos­tics firm Thy­ro­care Tech­nolo­gies’ ini­tial public of­fer­ing (IPO) re­ceived an over­whelm­ing re­sponse, the is­sue was sub­scribed 73.46 times. Data avail­able with the Na­tional Stock Ex­change (NSE) showed the is­sue re­ceived cu­mu­la­tive bids for 55.25 crore shares against the to­tal is­sue size of 75.21 lakh shares on Fri­day.

The qual­i­fied in­sti­tu­tional buy­ers (QIBs) quota was sub­scribed 73.17 times, the quota for high net worth in­di­vid­u­als (HNIs) was sub­scribed 225.3 times, while the re­tail in­di­vid­ual in­vestors’ (RIIs) por­tion was sub­scribed 8.23 times, ac­cord­ing to data from mer­chant bankers.

Thy­ro­care is plan­ning to raise .₹ 480 crore through the IPO (.`451 crore at the lower end of the price band). The price band for the IPO was set at .₹ 420- 446.

The com­pany has raised .₹ 144 crore by al­lot­ting 3.22 mil­lion shares to a bunch of an­chor in­vestors. Sabre Part­ners in­vested around .₹ 8 crore in the IPO, the shares were al­lot­ted at the higher end of the price band of .₹ 420446 apiece. Other an­chor in­vestors in­clude funds un­der HDFC MF, Birla Sun Life MF, Fidelity, DSP Black­rock and Tata AIA Life In­sur­ance.

JM Fi­nan­cial, Edel­weiss Fi­nan­cial Ser­vices and ICICI Se­cu­ri­ties were the in­vest­ment bankers to the is­sue. The com­pany re­ported a net profit of .₹ 40 crore for the nine months ended De­cem­ber 2015, while rev­enues were at .₹ 180.5 crore. For the full year 2014-15, it posted a net profit of .₹ 44.4 crore on a rev­enue of .₹ 190.3 crore.

The ini­tial public of­fer­ing (IPO) of Ujji­van Fi­nan­cial Ser­vices wit­nessed con­tin­ued buy­ing for the sec­ond straight day on Fri­day and the is­sue re­ceived bids for 86% of the to­tal is­sue size. Data avail­able with the stock ex­changes showed the IPO has re­ceived bids for 2.43 crore shares against the to­tal is­sue size of 2.96 crore shares. The is­sue will close on May 2.

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