Dr Lal PathLabs IPO oversubscribed 2.64 times on Day 2

Diagnostic chain Dr Lal PathLabs' initial public offer was oversubscribed 2.64 times on the second day of the issue today.
The Rs 638-crore IPO received bids for 2,14,51,060 shares against the total issue size of 81,20,000 shares, data available with the NSE till 1700 hours showed.
The quota reserved for qualified institutional buyers (QIBs) was over-subscribed 6.13 times.
The portion set aside for non institutional investors received 57 per cent subscription, while retail category was subscribed 1.56 times.
Dr Lal PathLabs has raised over Rs 191 crore from anchor investors by selling shares at a price of Rs 550 apiece.

The company's IPO, which aims to raise up to Rs 638 crore, will close tomorrow.

Price band for the offer has been fixed at Rs 540-550 per share.
Kotak Mahindra Capital Company and Citigroup Global Markets India Private are the book running lead managers to the issue.
At the end of September, the firm was operating 171 clinical laboratories and 1,554 patient service centres, besides having more than 7,000 pick-up points.