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The initial public offer of Mumbai-based diagnostics centre Thyrocare Technologies will hit the markets from April 27-29. The company proposes to raise ₹452-479 crore by selling over 1.07 crore shares in a price band of ₹420-446 a share.
The issue is entirely an offer-for-sale by PE investor CX Partners (through its subsidiary Agalia Pvt Ltd). CX Partners currently holds 22 per cent in the company and will be selling 19 per cent. Samara Capital holds 2.25 per cent, Norwest Venture Partners holds 10 per cent and ICICI’s Emerging India Fund holds 2.25 per cent. These three investors will not be exiting through the IPO. The promoters will hold 64 per cent post-issue.
Bids can be made for a minimum of 33 equity shares and thereafter in multiples of 33. The book running lead managers to the issue are JM Financial, Edelweiss and ICICI Securities.
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