Hindustan Laboratories has filed a DRHP with SEBI for its proposed IPO. The offer has a total issue size of up to 1,41,00,000 shares of face value of ₹10, comprising a
fresh issue of up to 50,00,000 shares and an offer for sale (OFS) of up to 91,00,000 shares.
Rajesh Vasantray Doshi is the promoter selling shareholder offloading up to 91,00,000 shares in the OFS.
Meanwhile, the company intends to utilise the net proceeds from the fresh issue of shares towards funding the working capital requirements and general corporate purposes.
As per the DRHP, Choice Capital Advisors Private Limited is the book-running lead manager, while MUFG Intime India Private Limited is the registrar of the issue.
The shares of Hindustan Laboratories are proposed to be listed on the BSE and the NSE.
Hindustan Laboratories business overview
Hindustan Laboratories is an Indian pharmaceutical company primarily engaged in the large-scale manufacturing and supply of generic medicines to government institutions under a business-to-government (B2G) framework.
As per the DRHP, the company’s products are primarily generic formulations, which are medicines for which the patents have expired and that are typically used as a substitute for other expensive branded medicines.
“We supply our products primarily under procurement contracts for central government projects under the Ministry of Health and Family Welfare through Government of India agencies as well as state government agencies or bodies,” reads the RHP.
