Hindustan Laboratories IPO: Hindustan Laboratories Limited has received observations from SEBI for its proposed IPO.

Hindustan Laboratories is a leading pharmaceutical company that is primarily engaged in the large-scale manufacturing and supply of generic medicines to government institutions under a business-to-government (B2G) framework.

Hindustan Laboratories IPO will have a total issue size of up to 14,100,000 shares of face value of Rs 10. 

Hindustan Laboratories IPO comprises a fresh issue of up to 5,000,000 shares and an offer for sale (OFS) of up to 9,100,000 shares.

The company proposes to utilize the net proceeds towards funding the working capital requirements and meet the general corporate purposes.

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.

The company supplies its products primarily under procurement contracts for central government projects under the Ministry of Health and Family Welfare through GoI agencies as well as state government agencies or bodies (together, “Government Customers”).

Choice Capital Advisors Private Limited is the book running lead manager to the issue.

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