Dr. Lal PathLabs settled at Rs 824.15 on BSE, a premium of 49.84% compared to the initial public offer price of Rs 550 on its debut on the bourses today, 23 December 2015.
Meanwhile, the S&P BSE Sensex rose 259.65 points or 1.01% to settle at 25,850.30.
Shares of Dr. Lal PathLabs debuted on the bourses at Rs 717, a premium of 30.36% compared to the initial public offer price of Rs 550. The stock hit a high of Rs 842.40 and low of Rs 715.50.
On BSE, 49.69 lakh shares were traded on the counter.
Dr. Lal PathLabs had priced the initial public offer (IPO) at the top end of the Rs 540 to Rs 550 per share price band for the IPO. A discount of Rs 15 per share to the issue price of Rs 550 was offered to retail investors. The IPO closed on 10 December 2015. It was subscribed 33.41 times, with total bids for 27.12 crore shares.
On a consolidated basis, Dr. Lal PathLabs reported profit after tax of Rs 36.93 crore on total sales of Rs 405.04 crore in the half year ended 30 September 2015.
Dr. Lal PathLabs is a provider of diagnostics and related healthcare tests and services in India. The established consumer healthcare brand in diagnostic services 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 specialized tests. Customers include individual patients, companies and institutions, healthcare providers as well as hospital and clinical labs.
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