Thyrocare IPO Subscribed 73.46X
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.