Diagnostics company Thyrocare Technologies shares made a strong debut on bourses on Monday and got listed at Rs 662 on BSE with a premium of 48.43 per cent over its issue price of Rs 446.
On the National Stock Exchanges, shares of Thyrocare Technologies listed at Rs 665 with a premium of 49.10 per cent against the issue price.
The initial public offering (IPO) of Thyrocare was oversubscribed 73.55 times in a price band of Rs 420-446.
The issue was open for bidding from April 27-29.
The firm, which runs a diagnostics laboratory chain, has come out with a public issue of up to 10,744,708 shares.
JM Financial Institutional Securities, Edelweiss Financial Services and ICICI Securities managed the issue.
Thyrocare competes with diagnostics chains such as Dr Lal PathLabs, SRL Diagnostics, Metropolis Healthcare and Apollo Clinic.
Many healthcare firms like Alkem Laboratories, Dr Lal PathLabs and Narayana Hrudayalaya came out with their IPOs last year, while HealthCare Global Enterprises got listed on the stock exchanges in March.
Later, the scrip closed at Rs 618.10 on BSE and at Rs 616.50 on NSE.