Thyrocare becomes a Listed Company:
Thyrocare Technologies Limited (Thyrocare) is an innovation in clinical laboratory, created by Dr. A. Velumani, a scientist turned entrepreneur.
In a journey of 20 years, this biochemistry laboratory, focused on disorders has become the single largest preventive care brand in the field of diagnostics. It is known for its Focus, Quality, Cost, Speed, Automation, Logistics and Systems that serve to the Billion population of the country.
Thyrocare had remained a closely held company, with three overseas investors and two Indian investors besides the Promoters and Promoter Group shareholders holding the entire shareholding of the Company.
In order to fulfill the contractual obligations towards the outgoing PE partners, the Company came out with IPO (Offer for Sale). The Selling Shareholders offered a total number of 1,07,44,708 equity shares of Rs. 10/- each at a premium of Rs. 436/- per share. The Offer was oversubscribed 75.40 times, with more than 8 lakhs retail investors, the highest in healthcare industry in India.
The huge success of IPO has given us additional responsibility of delivering to the aspirations of 100s of thousands of investors.