Thyrocare Tech makes a smart debut

Thyrocare Technologies is the brand new debutant on the bourses today. It made a grand entry, getting listed at Rs­­­.662 on the BSE, spurting up immediately to Rs.665.40.

This is a huge victory for the stock which issued shares in its IPO at Rs.446/share. A 50% jump up over the IPO price for listing is good. But now the moot question is whether this high level will sustain? The stock is already in the red, down to Rs.619 levels, nevertheless above issue price.

The IPO had met with resounding success – it was subscribed some 73 times. The issue had opened on 27th and closed on 29th April.

Thyrocare Technologies is a Mumbai-based preventive healthcare and diagnostic chain, with a central processing laboratory at Navi Mumbai and 5 regional processing laboratories, offering 198 tests and 59 profiles of tests, having presence in 466 cities through 1,041 service providers. It’s wholly owned subsidiary Nueclear Healthcare Limited (NHL) operates molecular imaging centers in New Delhi, Navi Mumbai and Hyderabad.

Our verdict on the IPO in our New Issue Analysis section, “While the pricing of Thyrocare issue is not cheap, one can apply for listing gains, as also, with a MT view, as an investor.”