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Thyrocare IPO opens on Apr 27, Price Band fixed at Rs 420 to Rs 446 per share

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Thyrocare is India’s first fully automated diagnostic laboratory chain of over 2000 diagnostic centres pan India. It focuses on the preventive healthcare market and has about 50% market share in the space.

The company has a growth of 22% CAGR and is expected to grow in the future, according to Dr. A Velumani (Chairman, CEO and Managing director. It operates on the Franchisee network system and has a successful operating model of business with its capacity utilisation of over 75%.

‘Thyrocare Technologies Limited’ will offer upto 10,744,708 equity shares of face value of Rs. 10 each for cash, at a price band of between Rs. 420 to Rs. 446 per Equity share through an offer for sale by its shareholders – as follows: (i) up to 10,207,472 Equity shares offered by Agalia Private Limited; (ii) up to 180,000 shares offered by A. Sundararaju HUF; (iii) up to 180,000 shares offered by A. Velumani HUF; and; (iv) up to 177,236 shares offered by Anand Velumani. Bids can be made for a minimum of 33 Equity Shares and in multiples of 33 Equity Shares thereafter.


The BRLMs to the offer are JM Financial Institutional Securities Limited, Edelweiss Financial Services Limited and ICICI Securities Limited.

Thyrocare operates with a Centralized Processing Laboratory (CPL) in Mumbai – India for esoteric tests; and Regional Processing Laboratory in major metro cities of India and other parts of Asia. Company is focussed on strong technologies, strong brands and strong systems that enable all laboratories to give their clients the best of diagnostics at affordable cost.

With a belief that ‘Quality’ is the heart of any intelligent management, Thyrocare became one of the first Indian diagnostic laboratories to get international accreditations like ISO 9001-2000 rating as early as 2001, which is now escalated to ISO 9001:2008; NABL (National Accreditation Board for Testing and Calibration Laboratories) in 2005 and CAP (College of American Pathologists) certification in 2007. The company has achieved its business advantage due to volumes and speed with accuracy.

Many laboratories and hospital brands in India, Middle East and South East Asian countries use Thyrocare to deliver quality at affordable cost. Says Dr. A Velumani “We are the masters of preventive care”

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