Hindustan Laboratories Limited has approached SEBI with the filing of its DRHP for a proposed initial public offering of equity shares.
The public issue includes a fresh issue of up to 5,000,000 equity shares and an offer for sale of up to 9,100,000 equity shares, taking the total issue size to up to 14,100,000 equity shares of face value ₹10 each. The company is promoted by Rajesh Vasantray Doshi, Kunjal C. Dedhia and Krishiv Rajesh Doshi.
The company proposes to utilise the net proceeds from the fresh issue towards meeting working capital requirements and for general corporate purposes.
Hindustan Laboratories is primarily engaged in manufacturing and supplying generic medicines to government institutions under B2G procurement contracts. Its products are supplied across 27 states and Union Territories and span multiple therapeutic segments.
The equity shares offered through the Red Herring Prospectus are proposed to be listed on the BSE and NSE. Choice Capital Advisors Private Limited is the book running lead manager to the issue.
