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  1. Dr PathLab, Alkem Lab make blockbuster debut

Dr PathLab, Alkem Lab make blockbuster debut

Dr Lal PathLabs and Alkem Laboratories made stellar debut in the stock markets on Wednesday. Shares of Dr Lal PathLabs rallied nearly 50% on the listing day, making it the best debut in the calendar year 2015.

By: | Updated: December 24, 2015 12:19 AM

Dr Lal PathLabs and Alkem Laboratories made stellar debut in the stock markets on Wednesday. Shares of Dr Lal PathLabs rallied nearly 50% on the listing day, making it the best debut in the calendar year 2015. It is also the second-best performance by a company on the listing day in last four years. Shares of Dr Lal PathLabs closed at R824.15 on the BSE, stock exchanges data showed.

Alkem Laboratories, on the other hand, soared nearly 32% on the debut day – the fourth best stock performance by a company on the listing day during 2015. Alkem

Laboratories scrip closed at R1,381.45 on the BSE.

labs

Investment bankers told FE that the stellar debut was expected based on the kind of response these IPOs received. The public issue of Dr Lal PathLabs was subscribed close to 34 times

while the initial share sale of Alkem Laboratories was oversubscribed more than 44 times.

The success of both these public offerings was on the back of strong response from institutional investors. Qualified institutional buyers (QIBs) book of Alkem was subscribed 57.2 times while the QIB portion of Dr Lal PathLabs was subscribed 63.56 times. Both the companies have raised close to R1,300 core, data showed.

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.

Alkem Laboratories is a pharmaceutical company with global operations, engaged in development, manufacture and sale of pharmaceutical and neutraceutical products. For the fiscal year 2015, the company was the fifth-largest pharmaceutical company in India in terms of domestic sales.

Twenty companies have raised nearly R16,000 crore from the primary markets during CY15, Prime Data showed.

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