Diagnostic chain Dr Lal PathLabs’ IPO oversubscribed | business | Hindustan Times
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Diagnostic chain Dr Lal PathLabs’ IPO oversubscribed

Diagnostic chain Dr Lal PathLabs’ initial public offer was oversubscribed 1.08 times till afternoon on the second day of the issue on Wednesday.

business Updated: Dec 09, 2015 18:10 IST
The company’s IPO, which aims to raise up to Rs 638 crore, will close on Thursday.
The company’s IPO, which aims to raise up to Rs 638 crore, will close on Thursday.

Diagnostic chain Dr Lal PathLabs’ initial public offer was oversubscribed 1.08 times till afternoon on the second day of the issue on Wednesday.

The Rs 638-crore IPO received bids for 87,76,100 shares against the total issue size of 81,20,000 shares, data available with the NSE till 1400 hrs showed.

Dr Lal PathLabs has raised over Rs 191 crore from anchor investors by selling shares at a price of Rs 550 apiece.

The company’s IPO, which aims to raise up to Rs 638 crore, will close on Thursday.

Price band for the offer has been fixed at Rs 540-550 per share.

Kotak Mahindra Capital Company and Citigroup Global Markets India Private are the book running lead managers to the issue.

At the end of September, the firm was operating 171 clinical laboratories and 1,554 patient service centres, besides having more than 7,000 pickup points.