Pharmaceutical company Innova Captab IPO subscribed 1.40 times on the first day of offering
The initial share sale of Rs 570 crore saw bids received for 1,27,25,196 shares against 90,78,010 shares on offer, according to NSE data.
On the first day of registration on Thursday, the IPO of the integrated pharmaceutical company Innova Captab was subscribed 1.40 times.
The initial share sale of Rs 570 crore saw bids received for 1,27,25,196 shares against 90,78,010 shares on offer, according to NSE data.
The retail retail investor (RII) category received 2.12 times more registrations, while the quota for non-institutional investors stood at 96 percent. The Qualified Institutional Buyers (QIBs) category received a 44 percent registration.
The Initial Public Offer (IPO) has a fresh issue with an aggregate amount of Rs 320 crore and an offer for sale of up to 55,80,357 equity shares.
The IPO will come in a price range of Rs 426-448 per share.
Innova Captab on Wednesday said it has collected Rs 171 crore from major investors.
Proceeds from new issues worth Rs 144.40 crore will be used for servicing debt, Rs 23.60 crore for investment in the subsidiary, UML, Rs 72 crore for financing working capital requirements. In addition, a portion will be used for general corporate purposes.
Innova Captab is an integrated pharmaceutical company with a presence in the pharmaceutical value chain, including research and development, manufacturing, drug distribution, marketing and exports.
ICICI Securities and JM Financial are the managers of the offering.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)
First print: December 22, 2023 | 12:25 pm IST