Dr Lal PathLabs raises $28.6M ahead of IPO
Dr Lal PathLabs Pvt Ltd, operator of the second-largest medical diagnostics services chain in the country, has raised Rs 191 crore ($28.6 million) by selling shares to anchor investors ahead of its initial public offering.
The company allotted 34.80 lakh shares at Rs 550 apiece to anchor investors, it said in a statement on Monday.
The anchor investors included investment funds and mutual fund schemes operated by Fidelity, T Rowe Price, JP Morgan, Birla Sun Life Mutual Fund and SBI Magnum Mutual Fund. Mutual fund schemes of DSP Blackrock, ICICI Prudential, Kotak Mahindra and Reliance Capital also invested.
The IPO will hit the capital markets on Tuesday and close on Thursday. The company has fixed the price band for the IPO between Rs 540 and Rs 550 per share.
The firm had file...