Laurus Labs was selling up to Rs 300 crore in new shares and some its shareholders were selling about 24.1 million shares in a price range of Rs 426 to Rs 428 per share.
Based in Visakhapatnam, Laurus Labs makes active pharmaceutical ingredients (API), or drug raw materials, that go into the making a range of medicines, chiefly HIV/AIDS drugs. It has three production plants in India for exports to the United States and other countries.
($1 = Rs 67.4149)
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