Alkem may announce IPO price band on Nov 30 or Dec 1: sources

MUMBAI (Reuters) - Drugmaker Alkem Laboratories Ltd , which is raising about 13.44 billion rupees ($201.3 million) through an initial public offering, could announce the price band on Nov. 30 or Dec. 1, according to two sources familiar with the matter. Earlier this month, Reuters reported that the company would launch the IPO by the second week of December. The issue size for cornerstone investors is seen at about 4 billion rupees of the total 6.72 billion rupees reserved for institutional investors, said the sources, who declined to be named as details of the listing are not public. A spokesman for Alkem declined to comment. The issue will be open to anchor investors on Dec. 7 and will be open to retail investors from Dec. 8-10, Alkem said in its red herring prospectus on Friday. ($1 = 66.7750 rupees) (Reporting by Abhishek Vishnoi, Writing by Karen Rebelo in Mumbai; Editing by Anand Basu)