Thyrocare Technologies IPO

Thyrocare Technologies IPO

Thyrocare is one of the leading pan-India diagnostic chains and conducts an array of medical diagnostic tests and profiles of tests that center on early detection and management of disorders and diseases. As of February 2016, Thyrocare offered 198 tests and 59 profiles of tests to detect a number of disorders, including thyroid disorders, growth disorders, metabolism disorders, auto-immunity, diabetes, anemia, cardiovascular disorders, infertility and various infectious diseases.
Its profiles of tests include 16 profiles of tests administered under the “Aarogyam” brand, which offers patients a suite of wellness and preventive health care tests. Thyrocare primarily operates testing services through a fully-automated CPL (Central Processing Laboratory) and has recently expanded operations to include a network of RPLs (Regional Processing Laboratories). While Thyrocar’s CPL is based in Navi Mumbai, it started setting up RPLs in 2014, and opened 4 RPLs in 2015 (in New Delhi, Coimbatore, Hyderabad, and Kolkata) and another one in Bhopal in 2016.
According to the latest count as of nine months ended December 2015, Thyrocare performed 159,350 tests daily through its network that comprises presence in more than 2000 cities and towns in India and internationally. Through its wholly owned subsidiary, Nueclear Healthcare Limited, Thyrocare operates a network of molecular imaging centers in New Delhi, Navi Mumbai and Hyderabad, focused on early and effective cancer monitoring.

Thyrocare Promoters – Dr. A. Velumani, A. Sundararaju

Subscription Dates 27-29 April 2016
Price Band INR420 – 446 per share
Issue Size INR451.3 – 479.2 crore
Face Value INR10 per share
Minimum Bid 33 shares
Retail Allocation 35%
Listing On BSE, NSE

The IPO is an offer for sale (OFS) and Thyrocare will not receive any proceeds from the IPO.

Name of shareholder Equity Shares Percentage (%)
Dr A Velumani 14,809,317 27.57
Agalia 11,294,540 21.02
Thyrocare Publications 6,534,500 12.16
NVP 5,064,880 9.43
A Sundararaju HUF 2,596,540 4.83
SIPL 1,576,415 2.93
MAPL 1,260,000 2.35
A Velumani HUF 1,091,828 2.35
Samara Capital Partners Fund I Limited 1,089,052 2.03
Total 50,534,872 94.07
Thyrocare’s standalone financial performance (in INR crore)
  FY2011 FY2012 FY2013 FY2014 FY2015
Total revenue 81.2 114.1 139.9 156.5 187.0
Total expenses 43.5 62.1 74.1 87.6 117.5
Profit/(loss) after tax 24.8 34.9 56.8 46.1 48.4

Thyrocare Technologies IPO Subscription Details

Category Shares offered Subscription (No. of times)
Day 1 (at 5 PM) Day 2 (at 5 PM) Day 3 (at 6 PM)
QIB   2,148,942  0.11  1.24  73.17
NII   1,611,707  0.10  0.43 225.30
Retail   3,760,648  1.02  3.49    8.38
Total   7,521,297  0.56  2.19   73.37

Thyrocare Contact Details

Thyrocare Technologies Ltd
D/37-1, TTC Industrial Area
MIDC Turbhe,
Navi Mumbai 400 703

Phone: +91 22 27622762
Fax: +91 22 27682409
Email: ramjee.d@thyrocare.com
Website: http://www.thyrocare.com

Registrar of Thyrocare Technologies IPO

Link Intime India Private Limited

Link Intime India Private Ltd,
C-13 Pannalal Silk Mills Compound,
LBS Marg, Bhandup West, Mumbai 400078
Maharashtra, India

Phone: +91 22 25963838
Fax: +91 22 25946969
Email: ttl.ipo@linkintime.co.in
Website: http://www.linkintime.co.in

Listing Performance of Thyrocare Technologies IPO

Bid/Offer Closing Date: 29 April 2016
Finalization of Basis of Allotment:
4 May 2016
Unblocking of funds from ASBA: 5 May 2016
Transfer of Shares to demat accounts: 6 May 2016

Listing Date: 9 May 2016

Listing Price on NSE: INR665 per share (49.1% premium over IPO price)

Closing Price on NSE: INR616.5 per share (38.2% premium over IPO price)

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18 Comments on "Thyrocare Technologies IPO"

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Chk your allottment here: http://www.linkintime.co.in/publicissues/default.aspx , I did not get any even just applying for 4 lots from HDFC.
This may be done via lottery.

This website is taking forever but I got message from State Bank about fund deduction. Don’t lose heart Niladri, we have lots of good IPOs in future. We will make money in this market.

Thanks to the analysis on this website I applied in ipos after a long time. Made two applications in Thyrocare and was lucky to get allotment in both. Listing of Thyrocare is on 9th, lets see if it delievrs like Dr Lal.

wbats about ujjivan??

What’s the price at the time of listing about thyrocare I think it’s open with 200₹ plus

Massive subscription for Thyrocare IPO, it has already crossed 40.3 times. Retail also subscribed 7 times.

Subscription already crossed 3.5X now. Not good for small investors 🙁

looks good. but i dont think 1200 aayega. 200% pop is difficult. unless you are talking long term. Definitely good buy for long term if they can avoid over extending themselves and stick to fundamentals. also as their reach expands, margins will come under pressure, as it is already visible in the past 5 year results.

thank you for the review.

raj sir, do you mind explaining what is 1200?

Price band fixed at 420-446 per share, grey market will be happy with this!!

Rumored price is around 450 – 470, this does not look good on eps of nearly 9.

PE ratio of 50, very very expensive

this maybe ridiculous but just take a look at Lal pathlab

When is the price band out for Thyrocare???

equitas me 4-5 hajar banega bas, ye kya mota paisa hai

Equitas ko list hone do, iska grey market bhi zor pakdega.

Vikas sir, 4-5 k in IPOs is not bad. What else you expect in 15 days with so less risk.

Thyrocare grey market application confirmed at 1200 in Jaipur. Mota paisa banega ismein bhi

This looks good. hope to make some money in Thyrocare IPO after equitas listing. I’ll free funds by selling Equitas and apply for Thyrocare, this will be another Dr Lal.

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