BackAlkem Labs said to announce IPO price band by tomorrow
Alkem Laboratories Ltd, which is raising about Rs1,344 crore through an IPO, could announce the price band on 30 November or 1 December, say sources
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Mumbai: Indian drug maker Alkem Laboratories Ltd, which is raising about ₹ 1,344 crore through an initial public offering (IPO), could announce the price band on 30 November or 1 December, according to two sources familiar with the matter.
Earlier this month, Reuters reported that the company would launch the IPO by the second week of December.
The issue size for cornerstone investors is seen at about ₹ 400 crore of the total ₹ 672 crore reserved for institutional investors, said the sources, who declined to be named as details of the listing are not public.
A spokesman for Alkem declined to comment.
The issue will be open to anchor investors on 7 December and will be open to retail investors from 8-10 December, Alkem said in its red herring prospectus on Friday. Reuters
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