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India's Alkem Labs eyes $210 mln IPO in Dec - sources
November 3, 2015 / 8:47 AM / 2 years ago

India's Alkem Labs eyes $210 mln IPO in Dec - sources

MUMBAI, Nov 3 (Reuters) - Indian drug manufacturer Alkem Laboratories Ltd IPO-ALKE.BO is set to launch an initial public offering (IPO) worth nearly $210 million in the second week of December, three sources directly involved in the transaction said on Tuesday.

Alkem Labs’ share sale will be India’s third high-profile market debut in the last three months of 2015, after airline IndiGo IPO-INAI.NS raised $459 million and Coffee Day Enterprises raised $176 million.

The company had filed a draft prospectus with India’s capital markets regulator in August for an IPO of up to 12.85 million equity shares, constituting 10.75 percent of the paid-up capital.

Officials at Alkem Labs were not immediately reachable for comment.

Spokespeople for Nomura, Axis Capital, JP Morgan and Edelweiss, the bankers on the deal, did not immediately respond to requests for comment. ($1 = 65.4300 Indian rupees) (Reporting by Abhishek Vishnoi and Clara Ferreira Marques; Editing by Rafael Nam)

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