Thyrocare Technologies is coming out with a 100% book building; initial public offering (IPO) of 10,744,708 shares of Rs 10 each in a price band Rs 420-446 per equity share. The issue will open for subscription on April 27, 2016 and will close on April 29, 2016.
The objects of the Offer are to achieve the benefits of listing the Equity Shares on the BSE and the NSE and to carry out the sale of up to 10,744,708 Equity Shares by the Selling Shareholders. The listing of the Equity Shares will enhance the company’s brand name and provide liquidity to the existing Shareholders. The listing of the Equity Shares will also provide a public market for the Equity Shares in India. The company will not receive any proceeds from the Offer.
Not more than 50% of the issue will be allocated to Qualified Institutional Buyers (QIBs), including 5% to the mutual funds. Further, not less than 15% of the issue will be available for the non-institutional bidders and the remaining 35% for the retail investors.
The shares will be listed on BSE as well as NSE. The face value of the share is Rs 10 and is priced 42.00 times of its face value on the lower side and 44.60 times on the higher side.
The book running lead managers to the issue are JM Financial Institutional Securities, Edelweiss Financial Services and ICICI Securities, while the compliance officer for the issue is Ramjee Dorai.
Thyrocare Technologie is one of the leading pan-India diagnostic chains and conduct an array of medical diagnostic tests and profiles of tests that helps in early detection and management of disorders and diseases.
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