Thyrocare IPO subscribed 56% on Day 1

Thyrocare Technologies’ IPO was subscribed 56 per cent on the first day, with bulk of the bids coming from by retail investors.

The 7.5 million-share IPO garnered bids for 3.2 million shares, with the retail portion of the IPO being fully subscribed, institutional investor segment subscribing 11 per cent and high net worth individual segment covering 10 per cent.

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• Thyrocare raises Rs 144 cr from anchor investors

The Rs 480-crore IPO is priced between Rs 420 and Rs 446 a share. The company has already raised Rs 144 crore from anchor investors at the top end of the price band.

At Rs 446 a share, Thyrocare is valued at nearly 51 times its 2014-15 earnings, below some of its peers such as Dr Lal PathLabs.