Laurus Labs lists at a premium of 14 per cent

Laurus Labs, a leading pharmaceutical R&D company, is known for manufacturing Active Pharmaceutical Ingredients for anti-retroviral and Hepatitis C. The IPO of the company has received a good response from the investors and has been subscribed more than 4.5 times on its last day of subscription.

Laurus Labs has listed at a premium of 14 per cent at Rs 490 against its issue price of Rs 428. The share price of Laurus Labs is trading at Rs 475 with an increment of 11.34 per cent on an intraday basis.

IPO's selling shareholders are Aptuit, Bluewater, FIL Capital Management and FIP (acting through its trustee FIL Capital Advisors). The company proposes to utilise the net proceeds from the fresh issue towards the pre-payment of term loans and general corporate purposes. The book running lead managers to the offer are Kotak Mahindra Capital Company, Jefferies India Private, Citigroup Global Markets India and SBI Capital Markets. 

On the financial front, Laurus Labs has reported consolidated net profit of Rs 75.1 crore on total revenue of Rs 941.78 crore during H1FY17.The company operates in four business lines: generic APIs; generic FDFs; synthesis; and ingredients. Its 80 per cent revenue comes from exports; while 20 per cent from domestic market.