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Hyderabad-based Laurus Labs, a research and development-driven pharmaceutical firm, plans to raise ₹1,331 crore from the primary market next week.
The company is placing 2.41 crore shares of the face value of ₹10 on the block in a price band of ₹426-428 a share. The company is also raising fresh equity of ₹300 crore. The shares are proposed to be listed on the BSE and the NSE. The selling shareholders are Aptuit Asia Pvt Ltd, Bluewater Investment Ltd, FIL Capital Management and Fidelity India Principals.
The IPO will be open from December 6 to 8. Bids can be made in multiples of 35 shares.
Laurus Labs has a leadership position in generic active pharmaceutical ingredients for select, high-growth therapeutic areas of anti-retrovirals and Hepatitis C.
Kotak Mahindra Capital, Citigroup Global Markets, Jefferies India and SBI Capital Markets are the book-running lead managers.
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