Thyrocare IPO subscribed 56% on Day 1

The initial public offering (IPO) of diagnostics company Thyrocare Technologies has been subscribed 56 per cent on the first day of the issue today.
The Rs 479.21-crore IPO received bids for 42,23,439 shares against the total issue size of 75,21,297 shares, data available with the NSE till 1700 hrs showed.
The portion set aside for qualified institutional buyers (QIBs) was subscribed 11 per cent, while non institutional investors category received 10 per cent subscription.
Retail investors pie was over-subscribed 1.02 times, as per the NSE data.
The firm, which runs a diagnostics laboratory chain across the country, has come out with a public issue of up to 10,744,708 shares of Rs 10 each.

The company's IPO is scheduled to close on April 29.

It has fixed a price band of Rs 420 to Rs 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 issue of shares to 15 anchor investors.
It competes with diagnostics chains such as Dr Lal PathLabs, SRL Diagnostics, Metropolis Healthcare and Apollo Clinic.
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.
Several healthcare firms like Alkem Laboratories, Dr Lal PathLabs and Narayana Hrudayalaya came out with their IPOs last year, while HealthCare Global Enterprises got listed on the stock exchanges last month.