 "Alkem Laboratories $200-mn IPO subscribed 44 times")
Generics drugmaker Alkem Laboratories received orders worth 44 times the number of available shares for its Rs 1,350 crore ($202.37 million) initial public offering, according to exchange data.
Alkem had received orders for about 401 million shares as of 5 pm (11.30 GMT), well above the 9.1 million shares on offer, according to data from the National Stock Exchange and BSE Ltd. Bookbuilding will close later on Thursday.
Qualified institutional investors were the most active bidders, having placed orders worth about 57.2 times the number of shares slotted.
Meanwhile, Dr Lal Pathlabs' Rs 630-crore ($94.44 million) IPO, whose bookbuilding also ends on Thursday, was subscribed about 33 times the number of available shares.