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Laurus Labs IPO is a book build issue of ₹1,330.51 crores. The issue is a combination of fresh issue of 0.70 crore shares aggregating to ₹299.71 crores and offer for sale of 2.41 crore shares aggregating to ₹1,030.80 crores.
Laurus Labs IPO bidding started from Dec 6, 2016 and ended on Dec 8, 2016. The allotment for Laurus Labs IPO was finalized on Dec 14, 2016. The shares got listed on BSE, NSE on Dec 19, 2016.
Laurus Labs IPO price band is set at ₹428.00 per share . The lot size for an application is 35. The minimum amount of investment required by an retail is ₹14,910 (35 shares). The lot size investment for sNII is 14 lots (490 shares), amounting to ₹2,09,720, and for bNII, it is 67 lots (2,345 shares), amounting to ₹10,03,660.
The issue includes a reservation of up to 3,22,164 shares for employees offered at a discount of ₹40.00 to the issue price.
Citigroup Global Markets India Pvt.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Laurus Labs IPO RHP for detailed Information.
| IPO Date | December 6, 2016 to December 8, 2016 |
| Listing Date | December 19, 2016 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹426 to ₹428 per share |
| Issue Price Final | ₹428 per share |
| Lot Size | 35 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 3,11,16,785 shares (aggregating up to ₹1,330.51 Cr) |
| Fresh Issue | 70,09,345 shares (aggregating up to ₹299.71 Cr) |
| Offer for Sale | 2,41,07,440 shares of ₹10 (aggregating up to ₹1,030.80 Cr) |
| Employee Discount | ₹40.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 9,87,46,904 shares |
| Share Holding Post Issue | 10,57,56,249 shares |
Laurus Labs IPO offers total 3,11,16,785 shares. Out of which 1,53,97,309 (49.48%) allocated to QIB, 61,58,924 (19.79%) allocated to QIB, 46,19,194 (14.84%) allocated to NII, 1,07,78,118 (34.64%) allocated to RII and 92,38,385 (29.69%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 1,53,97,309 (49.48%) | NA |
| − Anchor Investor Shares Offered | 92,38,385 (29.69%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 61,58,924 (19.79%) | NA |
| NII (HNI) Shares Offered | 46,19,194 (14.84%) | NA |
| Retail Shares Offered | 1,07,78,118 (34.64%) | 3,07,946 |
| Employee Shares Offered | 3,22,164 (1.04%) | NA |
| Total Shares Offered | 3,11,16,785 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Laurus Labs IPO opens on December 6, 2016, and closes on December 8, 2016.
| IPO Open Date | Tue, Dec 6, 2016 |
| IPO Close Date | Thu, Dec 8, 2016 |
| Tentative Allotment | Wed, Dec 14, 2016 |
| Initiation of Refunds | Thu, Dec 15, 2016 |
| Credit of Shares to Demat | Fri, Dec 16, 2016 |
| Tentative Listing Date | Mon, Dec 19, 2016 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Dec 8, 2016 |
Investors can bid for a minimum of 35 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 35 | ₹14,980 |
| Retail (Max) | 13 | 455 | ₹1,94,740 |
| S-HNI (Min) | 14 | 490 | ₹2,09,720 |
| S-HNI (Max) | 66 | 2,310 | ₹9,88,680 |
| B-HNI (Min) | 67 | 2,345 | ₹10,03,660 |
Incorporated in 2005, Laurus Labs Ltd is Hyderabad based pharmaceutical company. Laurus Labs is in the business of manufacturing generic active pharmaceutical ingredients (APIs) for therapeutic areas of antiretrovirals (ARVs) and Hepatitis C. Company also manufacture APIs in oncology and other therapeutic areas.
Laurus Labs operates in four business lines:
1. Generics active pharmaceutical ingredients (APIs) - The development, manufacture and sale of APIs and advanced intermediates.
2. Generics finished dosage forms (FDFs) - The development and manufacture of oral solid formulations.
3. Synthesis - Contract development and manufacturing services for global pharmaceutical companies.
4. Ingredients - The manufacture and sale of specialty ingredients for use in the nutraceutical and cosmeceutical sectors.
Key Highlights:
1. Laurus Labs launched 59 products since our inception in 2005.
2. Nine out of the 10 largest generic pharmaceutical companies in the world are its customers.
3. Laurus Labs employed 587 scientists at our R&D center in Hyderabad and 12 scientists at R&D centre in Greater Boston USA.
4. The Company owned 32 patents and had 150 pending patent applications, in several countries.
5. Company has three manufacturing facilities in Visakhapatnam, Andhra Pradesh.
6. Company sells its products in 32 countries in Sub-Saharan Africa, South-East Asia and Latin America.
Key Strengths:
1. Leadership in APIs in Select, High Growth Therapeutic Areas
2. Strong R&D Capabilities and Process Chemistry Skills
3. Industry Leading, Modern and Regulatory Compliant Manufacturing Capacities
4. Long-standing Relationships with Multi-National Pharmaceutical Companies
5. Experienced Promoters and Qualified Operational Personnel
6. Established Track Record of Delivering Growth
| Particulars | For the year/period ended (in Rs. Million) | ||||
|---|---|---|---|---|---|
| 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | 31-Mar-13 | 31-Mar-12 | |
| Total Assets | 23,083.48 | 18,925.49 | 12,730.58 | 7,009.89 | 5,128.78 |
| Total Revenue | 17,884.15 | 13,603.80 | 11,685.34 | 7,235.67 | 4,523.07 |
| Profit After Tax (PAT) | 1,435.68 | 735.17 | 972.17 | 882.19 | 215.77 |
The Company Laurus Labs IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Pre-payment of term loans | 226.29 |
| 2 | General corporate purposes | 60.42 |
[Dilip Davda] Company is having good contracts from world leaders and enjoys leadership position in APIs and generics. Investments made by the company will start adding to revenues and profits from FY 18 onwards and thus poised for bright prospects. Although issue appears to have been priced in line with peer’s trending, it may be considered for medium to long term investment. Read detail review...
| Listing Date | December 19, 2016 |
| BSE Script Code | 540222 |
| NSE Symbol | LAURUSLABS |
| ISIN | INE947Q01010 |
| Final Issue Price | ₹428 per share |
| BSE Listing Group | B |
Laurus Labs Ltd.
Plot No.21,
Jawaharlal Nehru Pharma City,
Parawada, Visakhapatnam 531 021
Visakhapatnam, Andhra Pradesh
Phone: + 91 40 3980 4333
Email: secretarial@lauruslabs.com
Website: http://www.lauruslabs.com
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://ipostatus.kfintech.com/
Laurus Labs IPO is a main-board IPO of 3,11,16,785 equity shares of the face value of ₹10 aggregating up to ₹1,330.51 Crores. The issue is priced at ₹428 per share. The minimum order quantity is 35.
The IPO opens on December 6, 2016, and closes on December 8, 2016.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Laurus Labs IPO using UPI as a payment gateway. Zerodha customers can apply in Laurus Labs IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Laurus Labs IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Laurus Labs IPO opens on December 6, 2016 and closes on December 8, 2016.
Laurus Labs IPO lot size is 35, and the minimum amount required for application is ₹14,980.
You can apply in Laurus Labs IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Laurus Labs IPO will be done on Wednesday, December 14, 2016, and the allotted shares will be credited to your demat account by Friday, December 16, 2016. Check the Laurus Labs IPO allotment status.
The Laurus Labs IPO listing date is on Monday, December 19, 2016.
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