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Delhi-based 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 ₹10 each on the block through an offer for sale in the price band ₹540-550. The total offer size is ₹626-638 crore, with the company being valued at about ₹4,000 crore.
The offer constitutes up to 14.04 per cent of the post-offer paid-up equity share capital of the company.
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 promoters Dr Arvind Lal and his wife Dr Vandana Lal are together offering 33.18 lakh shares, 2.38 lakh shares by Eskay House (an HUF) and 5.50 lakh shares by Ajaneya Lal. The remaining are by venture capital investors — 58.60 lakh shares by Wagner Ltd, 14.71 lakh shares by WestBridge Crossover Fund LLC, and 1.61 lakh shares by Sanjeevini Investment Holdings.
The minimum bid lot is for 20 equity shares and thereafter in multiples of 20. 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.
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