Innova Captab IPO: The initial public offering of integrated pharmaceutical company Innova Captab, which has been closed on Tuesday, December 26, has received a decent response from investors. Till 4:50 pm on the final day of bidding of Tuesday, the IPO received 56.26 times, garnering bids for 50,10,82,098 shares as against 89,06,250 shares on offer.
The category for Retail Individual Investors (RIIs) received 17.52 times subscription, while the quota for non-institutional investors got subscribed 66.80 times. The portion for Qualified Institutional Buyers (QIBs) received 116.15 times subscription.
The IPO allotment will take place on December 27, while its listing will take place on December 29 on both BSE and NSE.
Innova Captab IPO GMP Today
According to market observers, unlisted shares of Innova Captab Ltd are currently trading Rs 115 higher in the grey market as compared with its issue price. The Rs 115 grey market premium or GMP means the grey market is expecting a 25.67 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Innova Captab IPO Details
The IPO has a fresh issue of up to Rs 320 crore and an offer for sale of up to 55,80,357 equity shares.
The price range of the offer is Rs 426-448 a share. The IPO of Innova Captab got subscribed 1.40 times on the first day of subscription on Thursday.
Proceeds from fresh issuance worth Rs 144.40 crore will be utilised for payment of debt, Rs 23.60 crore for investment in the subsidiary, UML, Rs 72 crore for funding working capital requirements, besides, a portion will be used for general corporate purposes. Innova Captab is an integrated pharmaceutical company with presence across the pharmaceuticals value chain, including research and development, manufacturing, drug distribution, marketing, and exports.
ICICI Securities and JM Financial are the managers to the offer.
Comments
0 comment