Initial public offer of Dr Lal Pathlabs received an overwhelming response from investors as it was oversubscribed by 2.65 times till 5.00 pm on the second day of the issue on Wednesday. The public offer hit Dalal Street on December 8 and will close on December 10. Price band for the offer has been fixed at Rs 540-550 per share.
According to the data available with NSE (till 5.00 pm), the Rs 638-crore IPO received bids for 2,15,28,940 shares against the total issue size of 81,20,000 shares.
The portion of shares set aside for qualified institutional buyers (QIBs) and retail individual investors were subscribed 6.13 times and 1.56 times, according to the stock exchange data.
Dr Lal PathLabs has raised over Rs 191 crore from anchor investors by selling shares at a price of Rs 550 apiece.
Kotak Mahindra Capital Company and Citigroup Global Markets India Private are the book running lead managers to the issue.