Well known diagnostic chain Dr Lal PathLabs public issue will open on Dec 8th with a price band of Rs 540-Rs 550 on each equity share, valuing the company at Rs 4000cr. In this public offering, the promoters of Pathlabs, TA associates will dilute total of 14 per-cent stake from the company, which makes the total offer size in the range of Rs 620-630 cr. The organization said it is offering up to Rs 15 discount to retail investors.Click Here For Stock option tips
Started in 1949 by Major SK Lal, PathLabs diagnostics centers are located primarily in north and east India. The company's FY15 revenue was at Rs 662crore, and total profit after tax at Rs 95 crore. The company toldthat, it has R 235 cr. total cash in its books.
The proceeds from the offer sale will not come into the company, post the dilution the promoters will hold 58 percent in the company. The company said it currently operates on an hub and spoke model where it has mostly franchised its operations to around 7059 centres.
Shares of the GNFC fell 8% after it indefinitely closed its TDI-II plant at Dahej following leakage.
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