Wednesday, 30 November 2016

Laurus Labs sets IPO price band at Rs 426-428 per share : 30 Nov 2016



Laurus Labs will launch its initial public offering next week and it has fixed the price band at Rs 426-428 per equity share, reported PTI.
The IPO is scheduled to open on December 6 and close on December 8, the company said in a statement.
The offer consists of fresh issue of equity shares aggregating up to Rs 300 crore and an offer for sale of 24,107,440 equity shares by the selling shareholders namely Aptuit (Asia) Private Ltd, Bluewater Investment Ltd, FIL Capital Management (Mauritius) Ltd and Fidelity India Principals (acting through its trustee FIL Capital Advisors).
The Hyderabad-based company will not receive any proceeds from the offer for sale and all proceeds from this will go to the selling shareholders, the statement said.
The firm proposes to use the net proceeds from the fresh issue towards pre-payment of term loans and general corporate purposes.
Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, Jefferies India Private Limited and SBI Capital Markets Ltd are the Book Running Lead Managers (BRLMs) to the offer.
The registrar to the offer is Karvy Computershare Private Limited.
The equity shares of the company are proposed to be listed on BSE and NSE.

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