Innova Captab Limited IPO details; GMP, Subscription details
Innova Captab’s initial public offering (IPO) continued to see reasonable buying interest from investors on the third day of the bidding process. The stock traded 1.41 times on the first day and ended with a subscription of 3.65 times on the second day.
Innova Captab has raised a total of Rs 570 crore through an IPO. The IPO price band has been set at Rs 426 to Rs 448 per share. Investors can bid with a minimum size of 33 shares and multiples thereof. In all, the pharma company has raised Rs 570 million through fresh issue while promoters and other shareholders have sold 5,580,357 shares through OFS.
By 1:00 PM, investors had bid for 10,41,26,352 shares, compared to 90,78,010 shares in the same block, at 11.47 times on the third day. The three-day auction of these stocks, which started on Thursday, December 30, ends today.
The segment reserved for non-institutional investors (NII) is booked 24.43 times and the retail segment is booked 11.43 times. The portion earmarked for Qualified Institutional Bidders (QIBs) is 1.48 times.
Founded in January 2005, Innova Captab is a pharmaceutical company operating in three business segments: We provide contract development and manufacturing services to Indian pharmaceutical companies. In Japan, the company also has a business that manages branded generic drugs. In addition, the company has international operations with branded generic drugs.
The product portfolio of this company includes tablets, capsules, dry syrup, dry powder injection, ointment and liquids. During fiscal year 2023 and the three months ended June 30, 2023, the company manufactured and sold more than 600 different types of generic drug products. Innova Captab exported private label generic products to 20 and 16 countries in the same period.
Innova Captab’s gray market premium has come down by double digits to around Rs 90 per piece, but still shows upside potential of 20%. The premium in the informal market before the bidding process was around Rs 210-215.
Innova Captab has raised a total of Rs 570 crore through an IPO. The IPO price band has been set at Rs 426 to Rs 448 per share. Investors can bid with a minimum size of 33 shares and multiples thereof. In all, the pharma company has raised Rs 570 million through fresh issue while promoters and other shareholders have sold 5,580,357 shares through OFS.
By 1:00 PM, investors had bid for 10,41,26,352 shares, compared to 90,78,010 shares in the same block, at 11.47 times on the third day. The three-day auction of these stocks, which started on Thursday, December 30, ends today.
The segment reserved for non-institutional investors (NII) is booked 24.43 times and the retail segment is booked 11.43 times. The portion earmarked for Qualified Institutional Bidders (QIBs) is 1.48 times.