Alkem Labs mops up Rs 395 cr from anchor investors

Alkem Laboratories has raised Rs 395 crore from anchor investors, including Abu Dhabi Investment Fund, by allotting shares at a price of Rs 1,050.
For the IPO, the company has fixed a price band of Rs 1,020-1,050. Through the initial share sale, which opens today and closes on December 10, Alkem aims to raise up to Rs 1,350 crore.
More than 37.66 lakh shares were allotted to anchor investors at a price of Rs 1,050 apiece. This would be worth Rs 395.47 crore, according to a regulatory filing made by the company.
The anchor investors include Abu Dhabi Investment Authority - Behave, DSP Blackrock Mutual Fund, Morgan Stanley Mauritius Company Ltd, Apax Global, SBI Pharma Fund and Kuwait Investment Authority.

Axis Mutual Fund, IDFC Classic Equity Fund, HDFC Small and Mid Cap Fund, Franklin Templeton Mutual Fund, HDFC Standard Life Insurance Company Ltd and Tata Balanced Fund are among other anchor investors.
The global coordinators and book running lead managers (GCBRLMs) to the issue are Nomura Financial Advisory and Securities (India), Axis Capital Ltd, JP Morgan India Pvt Ltd and Edelweiss Financial Services Ltd.
Alkem plans to expand its footprint internationally. It had a portfolio of 705 brands in the domestic market as on September 30.