Diagnostics company Thyrocare Technologies will hit the capital markets on April 27 to raise funds through an initial public offering. The IPO is scheduled to close on April 29, according to the red herring prospectus (RHP).
The firm, which runs a diagnostics laboratory chain across the country, will come out with a public issue of up to 1.07 crore equity shares. These shares would be sold by the company’s existing shareholders including A Velumani HUF and Anand Velumani.
The issue is being managed by JM Financial Institutional Securities, Edelweiss Financial Services and ICICI Securities. Thyrocare competes with diagnostics chains such as Dr Lal PathLabs, SRL Diagnostics, Metropolis Healthcare and Apollo Clinic.