Pharmaceutical firm, Alkem Laboratories, has come out with initial public offer (IPO) to raise funds in the range of Rs 13 billion to Rs 13.5 billion to fund its expansion plans. The issue opens on December 8 and closes on December 10.

The company has priced its public issue in the range of Rs 1,020 to Rs 1,050 a share. The face value of shares is Rs 2 each. It has put up 298,913 equity shares on offer under this public issue.

The issue constitutes 10.75% and 10.50% of the fully diluted post-issue paid up equity share capital of the company. The shares will list on both the BSE and the NSE.

Alkem Laboratories is one of the largest industries in the world and comprises companies that are involved in the development, production and marketing of pharmaceutical products.

The global coordinators and book running lead managers to the issue are Nomura Financial Advisory and Securities India, Axis Capital, J P Morgan India and Edelweiss Financial Services.