Dr Lal Pathlabs IPO to open on Dec 8, price band Rs 540-550

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Moneycontrol Bureau

The Rs 638-crore public issue of Dr Lal Pathlabs will open for subscription on December 8. It has fixed price band at Rs 540-550 a share.

It is an offer for sale issue of 1.16 crore equity shares by promoter and promoter group including Dr Arvind Lal (12,61,996 equity shares), Dr Vandana Lal (20,56,747 shares), Eskay House (2,38,226 shares) and Anjaneya Lal (550,386 shares).

Among investor selling shareholders, Wagner will dilute 58,60,000 shares, Westbridge Crossover Fund, LLC 14,71,575 shares and Sanjeevini Investment Holdings 1,61,070 equity shares.

The Delhi-based diagnostic and related healthcare tests & services provider will not get any proceeds from this issue.

Equity shares are proposed to be listed on the Bombay Stock Exchange and National Stock Exchange.

Citigroup Global Markets India and Kotak Mahindra Capital Company are book running lead managers to the issue.