Thyrocare Technologies IPO – Snapshot, Prospectus, Allotment, Listing

in IPOs, Knowledge 0

Thyrocare Technologies, a diagonatic company, is coming up with an IPO on April 27, 2016. The company has filed its Red Herring Prospectus (RHP) draft for initial public offering (IPO) with markets regulator Securities and Exchange Board of India (SEBI) to hit the capital market betweem Apr 27 and Apr 29, 2016. The price band is yet to be decided.

Company Profile

Thyrocare Technologies Limited is a diagnostics company which is incorporated on January 28, 2000 at Mumbai. The firm runs a diagnostic chains and conduct an array of medical tests and profiles of tests that center on early detection and management of disorders and diseases.

The firm operates and provides 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.

Their laboratory process over 30,000 sample and above 1 lakh investigations every day. Their profiles of tests include 17 profiles of tests administered under their ‘Aarogyam’ brand. Through wholly owned subsidiary, NHL, they operate a network of molecular imaging centers in New Delhi, Navi Mumbai and Hyderabad, focused on early and effective cancer monitoring.

The company takes samples through a pan-India network of authorized service providers comprised of TAGs and TSPs, which operate under franchise agreements with it. As of November 30, 2015, it had a network of 1,122 authorized service providers, comprised of 878 TAGs and 244 TSPs spread across 483 cities and 28 states and union territories.

Dr Lal PathLabs, SRL Diagnostics, Metropolis Healthcare and Apollo Clinic are the main competitors of the company. Most of the healthcare firms like Alkem Laboratories, Dr Lal PathLabs and Narayana Hrudayalaya had hit the capital market in the previous year. While, HealthCare Global Enterprises got listed on the stock exchanges last month.

Outlook of the company

Portfolio of specialized tests with an emphasis on wellness and preventive healthcare
Multi-lab model driving volume growth and economies of scale
Pan-India collection network supported by logistics capabilities and information technology infrastructure
Capital efficiencies in its diagnostic testing business
Experienced senior leadership and management team
Continue to develop its NHL business to provide affordable PET-CT scanning
Expand its service platform by developing new channels that leverage the strength of its brand and network

Purpose of the issue:-

To enhance the brand name of the company.
To avail liquidity of the company’s existing Shareholders.
Carry out the sale of up to 10,744,708 Equity Shares by the Selling Shareholders.

Summary Of Issue:

Issue Open:-	April 27, 2016 – April 29, 2016
Issue Type	100% Book Built Issue IPO
Issue Size (Shares)	10,744,708 Equity Shares of Rs. 10
Issue Size in (Value)	Rs. [ ]Crore
Face Value	Rs. 10 Per Equity Share
Issue Price	Rs. 420 – Rs. 446 Per Equity Share
Market lots	[]Shares
Minimum Order Quantity	[]Shares
Listing At	BSE, NSE

Promoters Of the Company:-

1) Dr. Velumani:- He is the Chairman and Chief Executive Officer & Managing Director of the Company. He is a resident Indian national.

2) Dr. A. Sundararaju :- He is an Executive Director of the company. He is a resident Indian national.

Financials:-

Particulars	For the year/Period ended (Rs. in Million)
Financial Year	31-Mar-15	31-Mar-14	31-Mar-13	31-Mar-12	31-Mar-11
Total Liabilities	2943.71	2457.31	1965.35	1370.77	1009.14
Total Assets	2943.71	2457.31	1965.35	1370.77	1009.14
Total Revenue	1870.46	1565.55	1399.86	1141.85	812.07
Total Expenses	1175.04	876.60	741.12	621.72	435.80
Profit After Tax (PAT)	484.50	461.56	568.19	349.43	248.25

Subscription Figures

Number of Times Issue is Subscribed (BSE + NSE)

QIB : 73.18 times

NII : 225.3 times

RII : 8.73 times

Total : 73.55 times

Thyrocare Allotment Status

Thyrocare IPO allotment status would be available soon. Usually the allotment comes within a week from the closing date which in this IPO was April 29, 2016. The issue was over subscribed ~74 times thus one should not expect any big quantity of shares.

One can check the allotment on the below given link with PAN number or Application number or DP Client Id. All you need to do is to follow these steps