“Thyrocare IPO Review“
Initial Public Offer (IPO) of Thyrocare Technologies Limited is hitting the primary market this April with price band between Rs.420 to Rs.446. Actual dates of the Thyrocare IPO are 27 April 2016 (open) and 29 April 2016 (Close). Lets understand the details of this IPO in this review. Thyrocare is India’s first and most advanced and totally automated laboratory having its strong presence in more than 2000 cities / towns in India and internationally.
Thyrocare IPO Allotment Status : Check your IPO Allotment Status Here
Thyrocare is one of the leading pan-India diagnostic chains and process over 30,000 sample and above 1 lakh investigations every day. As of November 30, 2015, Thyrocare offeres 192 tests and 54 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.
Established on 28 January 2000 in Mumbai by scientist turned entrepreneur A Velumani, under “Aarogyam” brand it offers patients a suite of wellness and preventive health care tests.
Other players in this segment are Dr Lal PathLabs , SRL Diagnostic and Metropolis
Thyrocare turnover has been consistent for the last four years. The profit had peaked out during 2013 and stable after that. Estimated EPS for FY 2016 is Rs12 and based on this, PE band falls between 35 and 37.5. If we compare this with Dr. Lal Path labs IPO where in promoters were demanding the valuation in the band of 46.9 – 47.8, Thyrocare is reasonably priced. And investors were all behind Dr Lal Path Labs even at that steep valuations and at current it is trading at PE of 69 !
To Invest or not to Invest in Thyrocare IPO?
The current issue is only Offer For Sale (OFS), that means existing share holders are selling it to the interested buyers, hence there is no fresh addition of shares unlike Ujjivan IPO. So in these kind of OFS, it is very important for you to know the motive behind the issue before making any investment decision. Normally the promoters come up with OFS in mainly two cases. In first case, existing share holders want to jump out of a sinking ship by offloading their holding to general public who eventually left with piece of papers with zero value. In second case, the promoters interested in cashing out in a favorable condition of the primary market.
But looking at the pre and post IPO share holding patterns as per the prospectus of the company, the amount of offloading done by promoters is negligible. So it does not raise an alarm as on date.
Thyrocare Share Price
The Thyrocare IPO Share Price Band is fixed between Rs.420 to Rs.446 per equity share
Thyrocare IPO Issue Dates
The Thyrocare IPO is set be launched on 27th April 2016 and closes on 29th April 2016.
Thyrocare Share listing Date on Stock Exchanges
Thyrocare shares will be listed on NSE and BSE on 9th May 2016. You may get the allotted shares in your demat account by 05 May 2016.
Thyrocare IPO Other Details
- Issue Type: 100% Book Building
- Issue Size:10,744,708 Equity Shares of Rs. 10
- Face Value Per Share: Rs.10
- Issue Price Band: Rs.420– Rs.446
- Market Lot : 33 shares
- Minimum Order Quantity : 33 Shares
- Listing on Exchanges : BSE and NSE
- Thyrocare Promoters : Dr A. Velumani and Mr A. Sundararaju
- Thyrocare IPO Investment Bankers: JM Financial, Edelweiss and ICICI Securities
Objects of Thyrocare IPO Issue
- Achieve the benefits of listing the Equity Shares on the Stock Exchanges and for the sale of 10,744,708 Equity Shares by the Selling Shareholders (As per the red herring prospectus with SEBI)
- Enhance visibility and brand image among existing and potential clients
- Provide liquidity to the existing shareholders
Thyrocare IPO Other Information
Thyrocare Contact Information : D/37-1, TTC Industrial Area MIDC Turbhe, Navi Mumbai 400 703 Website : http://www.thyrocare.com Email: [email protected] Phone: + 91-22-27622762
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Disclaimer : No financial information whatsoever published anywhere here should be construed as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter published here is purely for information purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial adviser prior to making any actual investment decisions, based on information published here in this IPO. The author cannot be held liable for any loss arising by following this article.