Thyrocare's Rs 479 cr IPO oversubscribed 2.24 times on Day 2

The initial public offering (IPO) of diagnostics company Thyrocare Technologies has been over subscribed 2.24 times on the second day of the offer today.
The Rs 479.21-crore IPO received bids for 1,68,14,655 shares against the total issue size of 75,21,297 shares, as per NSE data available till 1700 hrs.
The category reserved for qualified institutional buyers (QIBs) was oversubscribed 1.24 times, while non-institutional investors received 43 per cent subscription.
Retail investors portion was also oversubscribed 3.58 times.
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 tomorrow.

It has fixed a price band of Rs 420-446 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.