Alkem Labs Eyes $210 Million IPO in December: Report

Alkem Labs Eyes $210 Million IPO in December: Report
Mumbai: Drug manufacturer Alkem Laboratories Ltd is set to launch an initial public offering (IPO) worth nearly $210 million (Rs 1,374 crore) in the second week of December, three sources directly involved in the transaction said on Tuesday.

Alkem Labs' share sale will be India's third high-profile market debut in the last three months of 2015, after airline IndiGo raised $459 million (Rs 3,003 crore) and Coffee Day Enterprises raised $176 million (Rs 1,151 crore).

The company had filed a draft prospectus with capital market regulator Sebi (Securities and Exchange Board of India) in August for an IPO of up to 12.85 million equity shares, constituting 10.75 per cent of the paid-up capital.

Officials at Alkem Labs were not immediately reachable for comment.

Spokespeople for Nomura, Axis Capital, JP Morgan and Edelweiss, the bankers on the deal, did not immediately respond to requests for comment.

($1 = Rs 65.43)
© Thomson Reuters 2015
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