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HomeBusinessAlkem Labs appoints banks for Rs. 1,800 crore IPO: Report

Alkem Labs appoints banks for Rs. 1,800 crore IPO: Report

Drug manufacturer Alkem Laboratories has appointed Nomura and Axis Capital as lead bankers for a planned Rs. 1500 crore to Rs. 1800 crore initial public offering, five sources involved in the process said.

Alkem is expected to soon file for the IPO with Securities and Exchange Board of India, according the sources, who declined to be named as the proceedings have not been made public.

Reports had last week said Alkem was considering a listing. “We are planning to file the prospectus with the regulator soon,” said one of the sources.

Alkem, Nomura and Axis did not respond to queries seeking comments. Mumbai-based Alkem has sales revenues of more than $500 million, according to its website. The company has seven manufacturing facilities across the country.

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