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Last Updated : Nov 04, 2016 03:06 PM IST | Source: Moneycontrol.com

Generic drug-maker Laurus Labs may launch Rs 1k cr IPO end-Nov

Generic drug-maker Laurus Labs is considering going public through an initial offer of Rs 1,000 crore, reports an article in the Mint today.


Moneycontrol Bureau 

Generic drug-maker Laurus Labs is considering going public through an initial offer of Rs 1,000 crore, reports an article in the Mint today.


Laurus Labs makes active pharmaceutical ingredients (APIs) for select, high-growth therapeutic areas of antiretrovirals and Hepatitis C and those used in oncology and other therapeutic areas. Aspen Pharmacare, Aurobindo Pharma, Cipla, Mylan Laboratories, Natco Pharma and Strides Shasun are among the major customers.


Current investors Warburg Pincus Llc, with roughly 30.41 percent holding and Eight Roads Ventures with around 18.7 percent plan to offload their stakes in Laurus totalling Rs 700 crore. The balance Rs 300 crore will be raised through fresh share issue.

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Hyberabad-based Laurus is currently conducting roadshows across various geographies and hopes to launch the IPO by end of November as verdict of the US Presidential elections is out and the market settles down.


Funds raised through the IPO will likely be utilised for debt repayment and other corporate expenditure.

It must be noted that this year so far, 24 companies have raised Rs.24,941 crore through the IPO route and investors have shown keen interest in the healthcare and pharmaceutical sectors.



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First Published on Nov 4, 2016 09:27 am
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