The initial public offer (IPO) of Dr. Lal PathLabs opens for bidding on 8 December 2015. The IPO comprises offer for sale of 1.16 crore equity shares of Rs 10 each. At the lower price band of Rs 540 per share, the issue size works out to Rs 626.40 crore and at the higher price band of Rs 550 per share, the issue size is Rs 638 crore. The selling shareholders comprise promoters Dr Arvind Lal, Dr Vandana Lal, Eskay House (Hindu undivided family) and Anjaneya Lal offering 0.41 crore shares and other selling shareholders West bridge Crossover Fund LLC, Wagner and Sanjeevini Investment Holdings offering 0.75 crore shares. Retail individual bidders will get a discount of Rs 15 on the offer price. The IPO is scheduled to close on 10 December 2015.

The company aims to achieve the benefits of listing the equity shares on the stock exchanges through the OFS.

On a consolidated basis, Dr. Lal PathLabs reported profit after tax of Rs 36.93 crore on total sales of Rs 405.04 crore in the half year ended 30 September 2015.

Dr. Lal PathLabs is a provider of diagnostics and related healthcare tests and services in India. The established consumer healthcare brand in diagnostic services has a catalogue of 1,110 test panels, 1,934 pathology tests and 1,561 radiology and cardiology tests to undertake the entire gamut of routine and specialized tests. Customers include individual patients, companies and institutions, healthcare providers as well as hospital and clinical labs.