Hindustan Laboratories receives SEBI observations on proposed IPO share plans
Business
Hindustan Laboratories received SEBI observations for its proposed IPO.
The public offer includes 5 million new shares and 9.1 million shares being sold by promoter Rajesh Vasantray Doshi.
The money raised will help boost the company's working capital and support its general corporate purposes.
Hindustan Laboratories eyes NSE BSE listing
Hindustan Laboratories makes generic medicines for government institutions, with its products reaching 27 states and union territories.
With this IPO, they're aiming to get listed on both the NSE and the BSE.
Choice Capital Advisors is handling the process as lead manager, while MUFG Intime India is taking care of the paperwork, marking a key step in the company's journey to expand its presence in India's pharma scene.