Pharma company Laurus Labs
will launch its initial public offering (IPO) next week and it has fixed the price band at Rs 426-428 per equity share. The IPO
is scheduled to open on December 6 and close on December 8, the company said.
The offer consists of fresh issue of equity shares aggregating up to Rs 300 crore and an offer for sale of 24,107,440 equity shares by the selling
shareholders namely Aptuit (Asia) Private, Bluewater Investment, FIL Capital Management (Mauritius) and Fidelity India Principals (acting through its
trustee FIL Capital Advisors). The Hyderabad-based company will not receive any proceeds from the offer for sale and all proceeds from this will go to the
selling shareholders, the statement said.
The firm proposes to use the net proceeds from the fresh issue towards pre-payment of term loans and general corporate purposes.
Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, Jefferies India Private Limited and SBI Capital Markets Ltd are the
Book Running Lead Managers to the offer.
The registrar to the offer is Karvy Computershare Private Limited.
The equity shares of the company are proposed to be listed on BSE and NSE.