Alkem Labs subscribed 35%, Dr Lal PathLabs 65% on Day One

The Rs 1,300-crore initial public offering (IPO) of Alkem Laboratories was subscribed 35 per cent, while that of Dr Lal PathLabs received 65 per cent subscription on Tuesday. Alkem raised Rs 395 crore, while Dr Lal PathLabs raised Rs 190 crore from anchor investors, including mutual funds and other marquee institutional investors.

Both the companies allotted shares at the top end of the price band; Alkem fixed the priced band for its IPO at Rs 1,020-1,050 a share, while Dr Lal priced it at Rs 540-550 a share. The two IPOs, which opened for subscription on Tuesday, will close on Thursday.