On the last day, Innova Captab saw a significant increase in subscriptions despite a decrease in its grey market premium. Here are all the important details regarding the IPO, including the most recent subscription figures and the premium for the grey market.
Investor interest in Innova Captab’s initial public offering (IPO) is still high as the three-day bidding process draws to an end on Tuesday, suggesting that the pharmaceutical company’s public debut is being well-received.
With its initial public offering (IPO), Innova Captab hopes to raise a total of Rs 570 crore. The range of prices for each share is fixed at Rs 426-448. The plan for raising funds entails raising Rs 570 crore by issuing new shares, and at the same time, the promoters and other stakeholders intend to sell 55,80,357 equity shares by means of an Offer for Sale (OFS).
general information about the subscription
The IPO attracted a respectable amount of buying interest on the last day, after seeing subscriptions increase 1.41 times on Day 1 and 3.65 times on Day 2.
The initial public offering (IPO) has attracted 50.65 subscriptions as of 3:25 pm on day 3, with both non-institutional and qualified institutional buyers (QIBs) expressing strong interest. There has also been a lot of demand in the retail sector.
Details of subscriptions by category
With 59.17 subscriptions, non-institutional investors (NIIs) demonstrated a high level of interest.
With the active participation of retail investors, a subscription rate of 15.99 times was achieved.
QIBs, or qualified institutional bidders, made 104.93 subscriptions.
countries during these times by exporting branded generic goods.
most recent GMP
Even though the grey market premium has dropped to about Rs 90 per share, Innova Captab’s initial public offering (IPO) still indicates a possible 20% gain after the initial premium of Rs 210–215 prior to the bidding process. With this, the IPO price of Rs 448 is now compared to the estimated listing price of Rs 538.
Operations for Innova Captab
Innova Captab was founded in January 2005 and focuses on three main business areas: domestic branded generic trading, international branded generic business, and contract development and manufacturing services for Indian pharmaceutical companies.
The company offers a wide range of products, including liquid medications, tablets, capsules, dry syrups, and injections of dry powder.
During the fiscal year 2023 and the final quarter of 2023, Innova Captab effectively produced and distributed more than 600 distinct generic medications. The company operates in 20 and 16 countries worldwide.
Additional information
Innova Captab obtained Rs 171 crore from anchor investors in advance of its market debut, allocating 38,16,963 equity shares at a cost of Rs 448 per share. Kfin Technologies is the registrar for the initial public offering (IPO), which is overseen by JM Financial and ICICI Securities.