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BW Businessworld

Alkem Laboratories Prices $200 Million IPO At Rs 1,050 Per Share

Alkem is expected to list on exchanges on or before Dec. 29, according to a source familiar with the listing. The IPO was subscribed 44.3 times.

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Generics drugmaker Alkem Laboratories raised 13.5 billion rupees ($201.88 million) in its initial public offering after pricing shares at Rs 1,050 each, according to its prospectus.

Pricing was at the top end of its Rs 1,020-1,050  price band.

Alkem is expected to list on exchanges on or before 29 December, according to a source familiar with the listing. The IPO was subscribed 44.3 times.

(Reuters)