Thyrocare Technologies IPO to open on April 27

Diagnostics company Thyrocare Technologies will hit the capital markets on April 27 to raise funds through an initial public offering (IPO).

The IPO is scheduled to close on April 29, according to the Red Herring Prospectus.

The firm, which runs a diagnostics laboratory chain across the country, will come out with a public issue of up to 10,744,708 equity shares.

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These shares would be sold by the company's existing shareholders, including A Velumani HUF and Anand Velumani.

 

The issue is being managed by JM Financial Institutional Securities, Edelweiss Financial Services and ICICI Securities.

The company has proposed to list its shares on BSE and NSE.

Thyrocare competes with diagnostics chains such as Dr Lal PathLabs, SRL Diagnostics, Metropolis Healthcare and Apollo Clinic.

Last year, several healthcare firms like Alkem Laboratories, Dr Lal PathLabs and Narayana Hrudayalaya had hit the capital market, while HealthCare Global Enterprises got listed on the stock exchanges last month.

Besides, leading eyecare chain New Delhi Centre For Sight has already received Securities and Exchange Board of India's permission to float an IPO.