Thyrocare plans Rs 400 cr IPO by early next year
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24 Jul 2014
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After the e-tail companies like Flipkart, Snapdeal or Infibeam, healthcare diagnostic companies are likely to be the next big wave to hit the Indian bourses, reported P B Jayakumar, Business World. Commenting on the development, Thyrocare, Chairman, Dr A Velumani said, “Thyrocare, one of India’s leading pathology laboratory services company, is likely to be the first to float a Rs 400-crore initial public offer (IPO) by February, next year. “We have been valued around Rs 1,800 crore to Rs 2,000 crore and the IPO will be an exit option for the private equity investors. Currently, 60 per cent of the Rs 160 crore turnover Thyrocare is owned by Dr Velumani and family and the remaining stake is with private equity players CX Partners, ICICI Venture and Norwest Venture Partners (NVP), reported media. Former Citigroup executive Ajay Relan-led CX Partners had purchased a 30 per cent stake in Thyrocare for about Rs 188 crore in 2010. Two years later, NVP invested about Rs 120 crore for 10 per cent stake. ICICI Venture also purchased close to 3 per cent stake from CX Partners, said sources. |
| Source: Dion Global Type: IPO Related |
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