Alkem Labs fixes IPO price band

Alkem Laboratories is planning to raise around Rs 1,344 crore (at the higher end of the price band) from an initial public offering (IPO) which will hit the markets on December 8.

This will be one of the biggest IPOs to hit the markets recently after Interglobe Aviation. The issue of 1.28 crore shares, has a price band of Rs 1,020 to Rs 1,050 per share.

The offer includes a reservation of up to 2,98,913 shares, for subscription by eligible employees. The company and the selling shareholders are offering a discount of Rs 100 on the offer price to eligible employees. The minimum bid lot is for 14 shares and in multiples of 14 shares thereafter.

The global co-ordinators and book running lead managers to the issue are Nomura Financial Advisory and Securities (India), Axis Capital, JP Morgan India and Edelweiss Financial Services.

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