Pharma company Laurus Labs will launch its initial public offering (IPO) next week and it has fixed the price band at 426–428 per equity share. The IPO is scheduled to open on December 6 and close on December 8, the company said on Tuesday. The offer consists of fresh issue of equity shares aggregating up to ~300 crore and an offer for sale of 24,107,440 equity shares. The selling shareholders are Aptuit Asia Pvt Ltd, Bluewater Investment Ltd, FIL Capital Management and Fidelity India Principals.
Hyderabad-based Laurus Labs, a research and development-driven pharmaceutical firm, plans to raise ₹1,331 crore from the primary market next week.
Laurus Labs has a leadership position in generic active pharmaceutical ingredients for select, high-growth therapeutic areas of anti-retrovirals and Hepatitis C. Kotak Mahindra Capital, Citigroup Global Markets, Jefferies India and SBI Capital Markets are the book-running lead managers.
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