Shares allotted to anchor investors at the top end of the price band for the IPO
Alkem Laboratories has raised Rs 395.46 crore by selling 37.66 lakh shares to a total of 25 anchor investors ahead of the company's initial public offer (IPO). The shares will be allotted to the anchor investors at Rs 1,050 per share, the top end of the Rs 1,020-Rs 1,050 per share price band for the IPO.
Among anchor investors, Abu Dhabi Investment Authority-Behave will be allocated 1.9 lakh shares, DSP Blackrock mutual fund-DSP Blackrock Small and Mid-Cap fund will be allocated 1.9 lakh shares, Morgan Stanley Mauritius Company will be allocated 3.05 lakh shares, Apax Global Alpha will be allocated 1.9 lakh shares, D B International (Asia) will be allocated 1.43 lakh shares, ICICI Prudential Top 100 Fund will be allocated 2.85 lakh shares and Chennai 2007, C/O Harvard Management Co Inc will be allocated 1.9 lakh shares among others.
The initial public offer (IPO) of Alkem Laboratories opens for bidding today, 8 December 2015. The IPO comprises offer for sale (OFS) of 1.28 crore equity shares of Rs 2 each. At the lower price band of Rs 1,020 per share, the issue size is Rs 1305.60 crore. At the higher price band of Rs 1,050 per share, the issue size works out to Rs 1344 crore. The selling shareholders comprise promoters and promoter group, offering about 1.28 crore shares. The IPO is scheduled to close on 10 December 2015. The company aims to achieve the benefits of listing the equity shares on the stock exchanges through the OFS.
On a consolidated basis, Alkem Laboratories reported profit after tax of Rs 431.29 crore on total sales of Rs 2570.13 crore in the half year ended 30 September 2015.
Alkem Laboratories is the fifth largest pharmaceutical company in India by domestic sales. The developer, manufacturer and seller of pharmaceutical and neutraceutical products including branded generics, generic drugs, active pharmaceutical ingredients (APIs) and nutraceuticals has 14 manufacturing locations in India and two in the US. Five of these plants are approved by the US Food and Drug Administration.
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