Mumbai, December 7, 2016: The maiden initial public offering (“IPO”) of Laurus Labs Limited, was subscribed overall by 0.61 times on the Day 2 (December 7, 2016) of the IPO.
The QIB portion is fully subscribed (1.02 times) while the Employee portion is subscribed by 0.98 times.
Subscription details as of 05:00 pm:-
Laurus Labs Ltd IPO Subscription Update - 6 Dec 2016 to 8 Dec 2016
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IPO Subscription Update - Day 2 @ 5pm
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Category
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No. of Shares
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Total Bids
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Subscription
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Demand (INR Cr.)
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QIB
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6,174,544
|
6,269,200
|
1.02x
|
268.3
|
HNI
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4,623,879
|
2,490,145
|
0.54x
|
106.6
|
Retail
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10,789,051
|
4,250,995
|
0.39x
|
181.9
|
Employees
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323,834
|
318,815
|
0.98x
|
12.4
|
Total
|
21,911,308
|
13,329,155
|
0.61x
|
569.2
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Laurus Labs Ltd. - IPO Update
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Opens
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Tuesday, December 6 , 2016
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Closes
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Thursday, December 8 , 2016
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Price Band
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INR 426 to INR 428
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Fresh issue
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Up to INR 300 crore
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Offer For Sale
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24,107,440 shares or INR 1031.79 crore at upper price band
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Total Issue Size
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INR 1331.79 crore at upper price band
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Bid Lot
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35 Equity Shares
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Allocation
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QIB 50%, HNI 15% & Retail 35%
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About Laurus Labs Limited:
Laurus Labs Limited (“Laurus Labs”) is a leading research and development (“R&D”) driven pharmaceutical company in India, with a leadership position in generic active pharmaceutical ingredients (“APIs”) for select, high-growth therapeutic areas of anti-retrovirals (“ARVs”) and Hepatitis C. Laurus Labs also manufactures APIs in oncology and other therapeutic areas. Their strategic and early investments in R&D and manufacturing infrastructure have enabled them to become one of the leading suppliers of APIs in the ARV therapeutic area to multi-national pharmaceutical formulation companies which cater to the large and fast-growing “donor-funded access-to-medicines markets” of Sub-Saharan Africa, South-East Asia and Latin America. During the financial year 2016, Laurus Labs sold APIs in 32 countries. Laurus Labs also has a growing synthesis and nutraceutical/cosmeceutical ingredients businesses. Further, they are increasingly focused towards growing their integrated generics finished dosage forms (“FDFs”) business in which they have made significant investments over the last two financial years. Laurus Labs operates in four business lines: Generics – APIs, Generics – FDFs, Synthesis and Ingredients.