Alkem Labs appoints Nomura, Axis as bankers for up to Rs 1,800 cr IPO

Drug manufacturer Alkem Laboratories has appointed Nomura and Axis Capital as lead bankers for a planned Rs 1,500-1,800 crore ($242.88-$291.45 million) initial public offering, five sources involved in the process said. [caption id=“attachment_1682277” align=“alignleft” width=“380”]  Representation image. GettyImages[/caption]Alkem is expected to soon file for the IPO with Securities and Exchange Board of India, according the sources, who declined to be named as the proceedings have not been made public. Local media reports had last week reported Alkem was considering a listing. “We are planning to file the prospectus with the regulator soon,” said one of the sources. Alkem, Nomura and Axis did not respond to queries seeking comments. Mumbai-based Alkem has sales revenues of more than $500 million, according to its website. The company has seven manufacturing facilities across the country. Reuters