Shares of the Alkem Laboratory had a good debut on the stock exchange today, the stock surged by 30 per cent on bourse today.
The pharma stock listed at Rs 1380 per share, up 31 percent from its issue price of Rs 1050 per share.
Alkem Labs is a pharmaceutical company with global operations, engaged in the development, manufacture and sale of pharmaceutical and neutraceutical products.
Earlier, the pharma company had fixed the price band between Rs 1,020 and Rs 1,050 for its initial public offer (IPO).
The company has total of 16 manufacturing facilities: 14 manufacturing facilities are at fine locations in India and two in the United States.
Alkem Laboratories had raised Rs 395 crore from anchor investors. The firm plans to expand its footprint internationally.
Shares of the pharma company was seen trading at Rs 1,382, marginally higher by 0.14 per cent on NSE at 10.50 am IST. It touched an intra-day high at Rs 1,399 and low at Rs 1356 during the trade.
Also, shares of Dr LalPath Labs made a good debut and gained over 34 per cent on BSE against the issue price of Rs 550.
Meanwhile, the Sensex was seen trading high by 260 points and the NSE Nifty recaptured the 7,800-mark in the trade