May 10, 2016

Thyrocare gains 40% on listing

Thyrocare is the fourth health-care firm in the past six months to see its shares rise more than 30 per cent on listing day. Shares of Dr Lal PathLabs, Alkem Laboratories, and Narayana Hrudayalaya had gained 49.8, 31.6 per cent, and 34.7 per cent, respectively, on listing day. The only health-care firm which had made a dismal debut in the past six months is HealthCare Global Enterprises, whose shares fell 21 per cent on listing day.

Preventive health-care firm Thyrocare's Initial Public Offering (IPO) of shares had generated huge demand last week, with the issue subscribed over 52 times. The Qualified Institutional Buyers (QIB) portion was subscribed 76 times; the non-institutional bidders, or high networth individual (HNI, or the super-rich) portion was subscribed 225 times and the retail (small) quota was subscribed 8.4 times.


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