Bookbuilding IPO | ₹1,331 Cr | Listed at BSE, NSE | Tue, Dec 6, 2016 - Thu, Dec 8, 2016
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 per share. The lot size for an application is 35. The minimum amount of investment required by an retail is ₹14,980 (35 shares) (based on upper price). 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 Open
Tue, Dec 6, 2016
IPO Close
Thu, Dec 8, 2016
Issue Price
₹428 per share
Market Cap (Pre-IPO)
₹4,526.37 Cr
| IPO Date | 6 to 8 Dec, 2016 |
| Listed on | Mon, Dec 19, 2016 |
| Face Value | ₹10 per share |
| Price Band | ₹426 to ₹428 |
| Issue Price | ₹428 per share |
| Lot Size | 35 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹40.00 |
| Total Issue Size | 3,11,16,785 shares (agg. up to ₹1,331 Cr) |
| Fresh Issue | 70,09,345 shares (agg. up to ₹300 Cr) |
| Offer for Sale | 2,41,07,440 shares of ₹10 (agg. up to ₹1,031 Cr) |
| Share Holding Pre Issue | 9,87,46,904 shares |
| Share Holding Post Issue | 10,57,56,249 shares |
| BSE Script Code / NSE Symbol | 540222 / LAURUSLABS |
| ISIN | INE947Q01010 |
Laurus Labs IPO comprises a total issue size of 3,11,16,785 shares. The net offer to the public is 3,07,94,621 shares, after excluding 3,22,164 shares under a preferential allotment. Of the Net offer 1,53,97,309 (50.00%) are allocated to QIB, 46,19,194 (15.00%) allocated to NII 1,07,78,118 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 1,53,97,309 | 50.00% | 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 | 15.00% | 14.84% | NA |
| Retail Shares Offered | 1,07,78,118 | 35.00% | 34.64% | 3,07,946 |
| Preferential Reservations | ||||
| Employee Shares Offered | 3,22,164 | 1.04% | NA | |
| Total Shares Offered | 3,11,16,785 | 100.00% | 100.00% | |
Investors can bid for a minimum of 35 shares and in multiples thereof.
| 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 |
Laurus Labs IPO raises ₹395.40 crore from anchor investors. Laurus Labs IPO Anchor bid date is December 5, 2016.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Dec 5, 2016 |
| Shares Offered | 92,38,385 |
| Anchor Portion (₹ Cr.) | 395.40 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Jan 13, 2017 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Mar 14, 2017 |
| 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 |
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
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Pre-payment of term loans | 226.29 |
| 2 | General corporate purposes | 60.42 |
The Laurus Labs IPO is subscribed 4.53 times on December 8, 2016 6:18:00 PM (Day 3). The public issue subscribed 1.58 times in the retail category, 10.54 times in the QIB category, and 3.57 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 10.54 | 61,74,544 | |
| NII | 3.57 | 46,23,879 | |
| Retail | 1.58 | 1,07,89,051 | |
| Employee | 1.71 | 3,23,834 | |
| Total | 4.53 | 2,19,11,308 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to the BRLMs (including brokerage and selling commission) | 33.26 |
| 2 | Commission and processing fees for SCSBs | 0.80 |
| 3 | Brokerage and selling commission for members of the Syndicate, Registered Brokers, RTAs and CDPs | 2.32 |
| 4 | Fees payable to Registrar to the Offer | 0.27 |
| 5 | Printing and stationery expenses | 2.00 |
| 6 | Advertising and marketing expenses | 4.95 |
| 7 | Others: Listing fees; SEBI, BSE and NSE processing fees; Fees payable to Legal Counsels; and Miscellaneous | 12.40 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹428.00 | ₹428.00 |
| Open | ₹490.00 | ₹489.90 |
| Low | ₹475.00 | ₹475.00 |
| High | ₹498.00 | ₹498.00 |
| Last Trade | ₹480.50 | ₹480.40 |
Lead Manager Reports
Laurus Labs IPO is a main-board IPO of 3,11,16,785 equity shares of the face value of ₹10 aggregating up to ₹1,331 Crores. The issue is priced at ₹428 per share. The minimum order quantity is 35.
The IPO opens on Tue, Dec 6, 2016, and closes on Thu, Dec 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 Tue, Dec 6, 2016 and closes on Thu, Dec 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 Fri, Dec 16, 2016. Check the Laurus Labs IPO allotment status.
The Laurus Labs IPO listing date is on Mon, Dec 19, 2016.
