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Medical diagnostics chain Dr Lal Pathlabs is making an initial public offer next week. The company is placing 1.16 crore equity shares of face value of Rs 10 each on the block through an offer for sale in the price band of Rs 540-550. The total offer size is Rs 620 crore – 630 crore.
The company offers about 3,495 diagnostic and healthcare tests, including routine clinical tests, specialised tests (for instance, in genetics) and preventive testing for diseases such as hypertension. It has an 80,000-sq ft national reference laboratory in New Delhi and 171 other standalone “satellite” labs. The network of labs is concentrated in the northern and eastern regions, with labs in all major cities.
The minimum bid lot is for 20 equity shares and thereafter in multiples of 20 equity shares. The offer opens on December 8 and closes on December 10. The book running lead managers are Kotak Mahindra Capital and Citigroup Global Markets India Pvt Ltd. The shares are proposed to be listed on the NSE and the BSE. The company is offering a discount of up to Rs 15 on the offer price to retail individual bidders.
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