Thyrocare Technologies plans to issue 1.07 crore shares through IPO

Selling shareholders intend to sell 1.07 crore shares through IPO

Thyrocare Technologies is coming up with an initial public offer (IPO) of 1.07 crore shares by way of offer of sale by the selling shareholders. Out of the total offer for sale of the IPO, Agalia offers for sale of upto 1.02 crore shares, A. Sundararaju HUF, a promoter group offers for sale of upto 1.80 lakh shares, A. Velumani HUF, a promoter group offers for sale of upto 1.80 lakh shares and promoter, Anand Velumani offers for sale of upto 1.77 lakh shares.

The objects of the offer are to achieve the benefits of listing the shares on the stock exchanges and to carry out the sale of up to 1.07 crore shares by the selling shareholders. The listing of the shares will enhance brand name and provide liquidity to the existing shareholders. The company will not receive any proceeds from the offer.

Thyrocare Technologies reported consolidated net profit of Rs 40.02 crore on total income of Rs 180.47 crore in the nine months ended 31 December 2015.

The company is one of the leading pan-India diagnostic chains and conduct an array of medical diagnostic tests and profiles of tests that center on early detection and management of disorders and diseases.

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