Dr Lal Pathlabs To Launch IPO

30 November, Mumbai

Dr Lal Pathlabs limited, a leading diagnostic chain will launch an Initial Public Offering (IPO) on December 7.

There will be of 11,600,000 equity shares of face value of Rs ten each, at price band from Rs 540 to Rs 550 per equity.

The offer will open on December 7 and closes on December 10.

Addressing mediapersons, its Chairman Arvind Lal said the fund will be raised from the IPO, which will be utilised for the expansion of the business including to set up Central laboratory at Lucknow, opening a laboratory in south-west India.

He said the organisation has 172 satellite laboratory at pan india and more than 7000 samples pickup points. The test would be done within 48 hours from the collection of the samples, he added.

The offer shall constitute up to 14.04 per cent of the post-offer paid-up equity share capital of the company. The minimum bidding lot is 20 equity share and multiple of 20 equity shares thereafter. The company and the selling shareholders may, in consultation with book running lead managers , offer a discount of upto Rs 15 on the offer price to retail individual bidders.