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Rs 1,300-crore Alkem IPO subscribed 1.41 times; Dr Lal PathLabs gets nearly three times subscription
Institutional investors were active bidders, placing orders worth 2.3 times the number of shares available to them
Alkem fixed the priced band for its IPO at Rs 1,020-1,050 a share, while Dr Lal priced it at Rs 540-550 a share
He said that such limits are not imposed so that the secondary market can grow
While brand name, network and strong cash flows are positives, pricing leaves little room for near-term gains
Growth in domestic business to continue at current pace; US venture will be fuelled by launch approvals
Sources say Alkem Laboratories' Rs 1,350-crore IPO and Dr Lal PathLabs' Rs 633-crore IPO will open from December 7 to 9
The issue will be open to cornerstone investors on Monday, and a day later for retail investors
Dr Lal PathLabs is offering 11.6 million shares in an initial public offer
Strong capabilities, light balance sheet, robust order book and impressive dividend history are key positives
Issue size placed at about Rs 1,344 cr, open to anchor investors on Dec 7 and to retail investors from Dec 8-10
Price band set at Rs 540-550 per share; 15% discount offered to retail investors
Company hopes to raise funds through IPO in next one or two months
The company is well-positioned to leverage upon one of the fastest-growing segments of the Indian healthcare industry
Alkem Laboratories, India's fifth largest pharma firm by domestic sales, is planning to hit the market with an issue of around Rs 1,500 crore
This year, 18 firms that have so far launched IPOs, raising Rs 11,000 cr, making it the best in four years in terms of fund raising
The shares are proposed to be listed on BSE and NSE
Plans to raise issue with investment bankers