Super Religare Lab files draft prospectus for IPO
Super Religare Laboratories (SRL) has filed a draft prospectus with capital market regulator Sebi for its initial public offer by diluting about 35% stake.
In its draft prospectus posted on Religare Capital Markets website, one of the managers of the issue, the company said it will issue 2.8 crore equity shares of face value of Rs 10 each, which will constitute 35% of the fully-diluted post issue paid up capital of the company.
Besides, SRL also plans to raise up to Rs 160 crore through private placement of up to 80 lakh shares, it said.
The company, however, did not elaborate as to how much it will raise from the said offering.
The share sale would be from book-building method and the book running lead managers for the issue are Nomura Financial Advisory & Securities (India) Pvt, Kotak Mahindra Capital and Religare Capital Markets.
On its private placement plan, SRL said: "Our company is considering a private placement of up to 80 lakh equity shares, for cash consideration aggregating up to Rs 160 crore, at its discretion prior to filing of the Red Herring Prospectus..."
It further said if the pre-IPO placement is completed, the issue size offered to the public would be reduced to the extent of such pre-IPO placement, subject to a minimum issue size of 25% of the post issue paid-up capital being offered to the public.
SRL had acquired the diagnostics business of Piramal Healthcare for Rs 600 crore in the first quarter of last fiscal.