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Dr. Lal PathLabs IPO over-subscribed by 33.41 times

Dr. Lal PathLabs

The initial public offer (IPO) of Dr. Lal PathLabs received bids for a total of 27.12 crore shares. The IPO was subscribed 33.41 times. The bidding for the IPO ended on Thursday.

As per the breakdown of subscription for the IPO according to various categories of investors, qualified institutional buyers (QIBs) portion was subscribed 63.56 times, non institutional investors portion was subscribed 61.28 times, and retail individual investors (RIIs) portion was subscribed 4.24 times.

The IPO comprised of offer for sale of 1.16 crore equity shares of Rs. 10 each. At the lower price band of Rs. 540 per share, the issue size works out to Rs. 626.40 crore and at the higher price band of Rs. 550 per share, the issue size is Rs 638 crore. The selling shareholders comprise promoters Dr Arvind Lal, Dr Vandana Lal, Eskay House (Hindu undivided family) and Anjaneya Lal offering 0.41 crore shares and other selling shareholders West bridge Crossover Fund LLC, Wagner and Sanjeevini Investment Holdings offering 0.75 crore shares. Retail individual bidders will get a discount of Rs. 15 on the offer price.

Earlier, Dr. Lal PathLabs raised Rs. 191.40 crore by selling 34.80 lakh shares to a total of 15 anchor investors ahead of the company’s initial public offer (IPO). The shares will be allotted to the anchor investors at Rs. 550 per share, the top end of the Rs. 540-Rs 550 per share price band for the IPO.

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