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Thyrocare Technologies Ltd’s shares jump to 48.43 percent on listing day

New Delhi : Preventive healthcare and diagnostics company, Thyrocare Technologies Ltd, has received a strong demand of 73 times the number of shares it had offered in the Initial Public Offering (IPO) of Rs. 480 crore.

Today, the company witnessed many takers on its first day at bourses. The diagnostics company debuted at Rs. 665 per share on the NSE, 49 percent premium to its issue price at Rs. 446. The stock opened at Rs.662 against its offer price of Rs.446 a share.

At 12.40 p.m., Thyrocare’s shares were quoting at Rs. 615.30 apiece, up 38 percent. The scrip touched a high and a low of Rs.662 and Rs.606 respectively.

The entire public issue was on offer for sale by the company’s promoters and a private equity investor. The company had fixed the IPO price at Rs. 420-446 per share. The Navi Mumbai-based company allotted shares at the upper end of the price band.

Thyrocare Technologies public issue late last month received a stellar response from the investors, who saw its shares rise as much as 48.43 percent on debut on Monday. The high net-worth individual investors segment was subscribed 225 times, the institutional investor segment 73 times and retail portion 8.73 times.

Analysts have been positive on the company. The opening gains seen in the case of Thyrocare are the best since the IPO of Sharda Cropchem in November 2014, which saw its shares jump 63 percent on the opening day. Post the stock market listing, Thyrocare has a market capitalisation of Rs. 3,556.50 crore.

Thyrocare Technologies conducts an array of medical and profiles tests that center on early detection and management of disorders and diseases.

As of February 29, 2016, it 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. (ANI)