Dr Lal PathLabs has raised Rs 191 crore by allotting close to 35 lakh shares to anchor investors. The pre-initial public offering (IPO) placement was done at Rs 550 per share, which is the upper end of the issue price band. The offering will open for public subscription on Tuesday.
The company had allotted shares to 15 companies, including DB International Asia, Merrill Lynch Capital Markets Espana, Morgan Stanley Mauritius Company, SBI Magnum Multicap Fund and T Rowe Price International Discovery Fund.
Dr Lal PathLabs has fixed the IPO price band of Rs 540-550 per share. The company is also offering a discount of Rs 15 for retail investors. The company plans to raise Rs 638 crore through the issue based on the upper price band.
Kotak Mahindra Capital and Citigroup Global Markets India are the book running lead managers for the issue.
Dr Lal PathLabs is a provider of diagnostics and related healthcare tests and services in India. The New Delhi-based company has a catalogue of 1,110 test panels, 1,934 pathology tests and 1,561 radiology and cardiology tests to undertake the entire gamut of routine and specialised tests. Customers include individual patients, companies and institutions, healthcare providers as well as hospital and clinical labs.
So far, 18 companies have raised close to Rs 11,000 crore from the primary markets during CY15, Prime Data showed. InterGlobe Aviation and SH Kelkar were the last two companies to hit the primary markets.