The initial public offer (IPO) of drugmaker Alkem Laboratories received strong investor demand on the closing day of the three-day public offering on the back of good response from non-institutional investors.
Till 5 pm, the issue was subscribed more than 44.19 times, stock exchanges data showed. The company will raise close to Rs 1,300 crore through the IPO.
The non-institutional category comprising of high net-worth individuals (HNIs) was subscribed nearly 130 times. HNIs bid about 24.47 crore shares against 18.83 lakh shares reserved.
Qualified Institutional Buyers(QIBs) bid for 14.36 crore shares against 25.11 lakh shares reserved for them. The QIB book was subscribed 57.19 times. Even the retail portion managed to receive nearly 3 times subscription. The drugmaker had raised over Rs 395 crore by allotting shares to anchor investors.
The allotment was done at Rs 1,050 apiece — the upper price band.
Similarly, diagnostics chain Dr Lal Pathlabs IPO was subscribed 33.23 times till 5 p.m., stock exchanges data showed. The QIBs bid for 14.74 crore shares against 23.20 lakh shares reserved for the category. Even the HNI portion was subscribed 61.28 times as HNIs bid for 1066.33 crore shares against 17.4 lakh shares reserved for them. So far, 18 companies have raised nearly Rs 11,000 crore from the primary markets during CY15, Prime Data showed.