Thyrocare, Ujjivan IPOs To Hit Markets Next Week

New Delhi: Diagnostics company Thyrocare Technologies and microfinance lender Ujjivan Financial Services will hit capital markets next week to raise funds through their initial public offerings.

The bidding for shares in the IPO of Ujjivan Financial will remain open from April 28-May 2, 2016, according to a public announcement.

The IPO comprises fresh issue of equity shares worth up to Rs 358 crore and an offer for sale of up to 2,49,68,332 equity shares by the existing shareholders.

Ujjivan in consultation with the book running lead managers, has meanwhile undertaken a pre-IPO placement of 1,42,36,057 equity shares for Rs 292 crore.

The size of the fresh issue Rs 650 crore - as disclosed in the DRHP dated December 31, 2015, has been now reduced accordingly.

The company's issue is being managed by Kotak Mahindra Capital Company, Axis Capital, ICICI Securities and IIFL Holdings.

The equity shares are proposed to be listed on BSE and NSE.

Ujjivan had in February received capital markets regulator Sebi's approval to float an initial public offering.

Besides, the IPO of Thyrocare will open on April 27 in a price band of Rs 420-446 per equity share to raise about Rs 480 crore.

The IPO is scheduled to close on April 29.

The firm, which runs a diagnostics laboratory chain across the country, will come out with a public issue of up to 10,744,708 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. The company has proposed to list its shares on BSE and NSE.

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

Last year, several healthcare firms like Alkem Laboratories, Dr Lal PathLabs and Narayana Hrudayalaya had hit the capital market, while HealthCare Global Enterprises got listed on the stock exchanges last month.

Seven firms - Equitas Holdings, Infibeam Incorporation, Bharat Wire Ropes, HealthCare Global Enterprises, Quick Heal Technologies, TeamLease Services and Precision Camshafts - have come out with their IPOs this year.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)