Comments
Hyderabad-based Laurus Labs, one of the world’s leading suppliers of anti-retroviral APIs (active pharmaceutical ingredients), is expected to file draft offer documents for a ₹1,000-1,200 crore initial public offer (IPO) soon. According to a source aware of this development, Jefferies India Pvt Ltd will be the lead merchant manager to the issue.
Laurus Labs was incorporated in 2005 and by FY14-15 reported revenue of ₹1,326 crore. It has three main manufacturing facilities in and around Visakhapatnam, according to the company’s website.
Besides HIV treatment drugs, Laurus also manufactures APIs for oncology, cardio-vascular and anti-diabetic therapeutic segments. The IPO is intended as an exit for its private equity investors, the source quoted above said. The PE firm reportedly holds roughly 30 per cent in Laurus Labs, which it bought for about ₹550 crore in October 2014. Fidelity Growth Partners India and Boston-based Fidelity Biosciences are also believed to hold some stake in the company.
The merchant banker Jefferies could not be reached for comment. The bank has experience with public offers from the healthcare sector in India, having handled the IPOs of Narayana Hrudayalaya and Syngene.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.