Thyrocare Tech debuts at a premium heftier than its issue price
DSIJ Intelligence / 09 May 2016
In one of the successful IPO listings of 2016 , Thyrocare Technologies Limited has managed to trade at a hefty premium on the day of listing on Monday. Good market conditions with broader markets trading in green helped Thyrocare , India's fully automated diagnostic laboratory, on its first day of trading on bourses.
In one of the successful IPO listings of 2016 , Thyrocare Technologies Limited has managed to trade at a hefty premium on the day of listing on Monday. Good market conditions with broader markets trading in green helped Thyrocare , India's fully automated diagnostic laboratory, on its first day of trading on bourses.
Thyrocare made a debut at 665 per share, thus trading at a premium of almost 50 percent to its issue price. The listings gains turned out as expected in line with the kind of response investors showed by oversubscribing to the issue 73.55 times. The upper band for the issue was at 446 and the lower band at 420.
Thyrocare was trading at 618 at 1 p.m. at the time of filing this report , up by almost 38 percent from the issue price. Sensex is up almost 300 points aided by HDFC twins and ICICI Bank.
Dr. Lal PathLabs, SRL Diagnostics , Apollo Clinic and Metropolis Healthcare are the key competitors of Thyrocare Technologies. Dr. Lal PathLabs has had a successful listing recently and is trading flat to positive on Monday . Listed in December 2015, Dr. Lal PathLab is up by almost 19 percent since it got listed in December 2015 . The stock got listed at a premium of 52 percent, at 834, to its issue price of 550 per share.
Thyrocare focuses on clinical chemistry and preventive care diagnosis.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.