Alkem Laboratories IPO to open for bidding on 8 December 2015

IPO price band fixed at Rs 1,020 to Rs 1,050 per share

The initial public offer (IPO) of Alkem Laboratories opens for bidding on 8 December 2015. The IPO comprises offer for sale (OFS) of 1.28 crore equity shares of Rs 2 each. At the lower price band of Rs 1,020 per share, the issue size is Rs 1305.60 crore. At the higher price band of Rs 1,050 per share, the issue size works out to Rs 1344 crore. The selling shareholders comprise promoters and promoter group, offering about 1.28 crore shares. The IPO is scheduled to close on 10 December 2015. The company aims to achieve the benefits of listing the equity shares on the stock exchanges through the OFS.

On a consolidated basis, Alkem Laboratories reported profit after tax of Rs 431.29 crore on total sales of Rs 2570.13 crore in the half year ended 30 September 2015.

Alkem Laboratories is the fifth largest pharmaceutical company in India by domestic sales. The developer, manufacturer and seller of pharmaceutical and neutraceutical products including branded generics, generic drugs, active pharmaceutical ingredients (APIs) and nutraceuticals has 14 manufacturing locations in India and two in the US. Five of these plants are approved by the US Food and Drug Administration.

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