Alkem, Dr Lal to make stock market debut on Wednesday

Drug maker Alkem Laboratories and diagnostic chain Dr Lal PathLabs, which recently concluded their initial public offerings successfully, would list shares on the stock exchanges tomorrow. The equity shares would be listed on the BSE as well as the National Stock Exchange (NSE). "Trading members of the exchange are hereby informed that effective from Wednesday the equity shares of Dr Lal PathLabs shall be listed and admitted to dealings in the list of 'B' group of securities," BSE said in a notice today.

The issue price has been fixed at Rs 550 per equity share. In another notice, BSE said, "Effective from Wednesday the equity shares of Alkem Lab shall be listed and admitted to dealings on the exchange in the list of 'B' Group of securities." The issue price has been fixed at Rs 1,050 per equity share. Alkem has raised about Rs 1,350 crore at an issue price of Rs 1,050 per share from its IPO, which was over-subscribed 44.29 times. It plans to expand its footprint internationally. It had a portfolio of 705 brands in the domestic market as on September 30. Dr Lal's IPO too was a huge success with 33.41 times over-subscription.

The price band was fixed at Rs 540-550 per share for the Rs 638 crore IPO. It also raised over Rs 191 crore from anchor investors by selling shares at Rs 550 apiece.