MUMBAI (Reuters) - Generics drugmaker Alkem Laboratories received orders worth 44 times the number of available shares for its 13.5 billion rupee ($202.37 million) initial public offering, according to exchange data.
Alkem had received orders for about 401 million shares as of 5 p.m., 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' 6.3 billion rupees ($94.44 million) IPO, whose bookbuilding also ends on Thursday, was subscribed about 33 times the number of available shares.
($1 = 66.7100 rupees)
(Reporting by Karen Rebelo in Mumbai; Editing by Biju Dwarakanath)