The offer for sale from the promoters and private equity investors of Dr Lal PAthlabs was oversubscribed 33.41 times. The company had tapped the markets with its offer for sale of 1.16 cr shares in a price band of Rs 540-550 with a discount of Rs 15 to retail investors. The company had earlier allotted 34.80 lac shares to 15 anchor investors comprising of 26 entities.

The QIB portion was subscribed 63.56 times and the HNI portion almost similar at 61.28 times. The cost of leverage based on this subscription at 8% interest for 8 days comes to Rs 59 per share. The retail portion was subscribed 4.24 times and the issue received 5.60 lac applications implying that on per lot basis the retail portion is subscribed about 2.75 times on basis of lot. This would indicate that for every 11 applicants there would be 4 successful in the retail category.

The details of subscription is given below: –

From the above it is clear that the issue has received good response from all categories and though the pricing was considered steep, the lack of organised players in the listed space helped. Performance post listing would be a key for the company going forward.