Dr Lal Path Labs Limited(Dr Lal) which is tapping the capital markets with its offer for sale of 1.16 cr shares completed allocation to anchor investors yesterday. The company allotted 34.80 lac shares at the top end of the band at Rs550to 15 anchor investors comprising of 26 entities. The list includes many well known names and is fairly exhaustive. The issue which has a price band of Rs540-550, opens today and closes on Thursday the 10th of December.
It’s probably after a long time that one is likely to see a liquidity crunch with two large issues running simultaneously, a tax free bond issue opening on the same day coupled with advance tax due on the 15th of December. All this put together would squeeze the leveraged investor and make him pay more for the rupee that he borrows. This would also significantly increase the cost of borrowing for the HNI’s who would be applying in the issues of Dr Lal and Alkem Laboratories which would be raising roughly Rs 2,000 crs.
The full list of anchor investors and entities is given below:-
