Thyrocare Technologies files draft papers with Sebi

Diagnostic company Thyrocare Technologies has filed draft papers with capital markets regulator Sebi to raise funds through an initial public offering.

The company, which runs a diagnostic laboratory chain across the country, will come out with a public issue of up to 10,744,708 equity shares, as per the Draft Red Herring Prospectus (DRHP).  These shares would be sold by the company's existing shareholders.

The issue is being managed by JM Financial Institutional Securities, Edelweiss Financial Services and ICICI Securities. The company has proposed to list its shares on the BSE and NSE.

Earlier this year, several healthcare firms like Alkem Laboratories, Dr Lal PathLabs and Narayana Hrudayalaya hit the capital market. Besides, leading eyecare chain New Delhi Centre For Sight had approached Sebi, this month, seeking permission to float an IPO.

Thyrocare competes with diagnostic chains such as Dr Lal PathLabs, SRL Diagnostics, Metropolis Healthcare and Apollo Clinic.