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Eager Investors Snap Up Indian IPOs On Positive Health Care Outlook

 
• By Nell MacRae

Investors upbeat about the prospects for India's health care sector have given a strong welcome to IPOs by Alkem Laboratories, the country's fifth-largest drug company in terms of domestic revenues, and Dr. Lal PathLabs which has a strong nationwide presence, as the overall first-time share sale market regains its vigor to post its best performance in five years.

NEW DELHI - Investors betting on surging health care demand have enthusiastically lapped up initial public offerings in India worth a total of $296m, from drug maker Alkem Laboratories Ltd. and leading domestic diagnostic chain Dr. Lal PathLabs Ltd as the country’s IPO market records its best year since 2010.

The robust showing by the two companies comes as affordable Bangalore-based healthcare provider Narayana Hrudayalaya Ltd, established in 2000 by philanthropist and cardiac surgeon Devi Prasad Shetty, who was the personal physician of Mother Teresa toward the end of her life, gears up for its

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