The secondary offering from Thyrocare Technologies which opened for subscription on Wednesday the 27^th of April and closed on Friday the 29^th of April received excellent support and was oversubscribed 73 times. The leveraged HNI subscribed his bucket size 225 times. And would still make money considering that the grey market premium is in the region of Rs 250. One wonders whether the present primary market is a nexus between the financers which are directly or indirectly an arm of merchant bankers and these leveraged investors who distort the demand and create such high subscription. One wonders whether SEBI has ever looked into this issue where a single individual from the HNI category where the bucket size is either 10% or 15% of the whole issue is permitted to subscribe to the whole issue. Secondly till today there hardly seems an instance where the spill over has happened from retail to HNI or QIB to HNI to warrant such subscription.

Thyrocare Technologies revised price band was Rs 420-446 and the issue was to raise Rs 479 crs at the top end of the band through a secondary offering. The detailed subscription in various categories is given below: –