Innova Captab IPO receives bumper response on its third day of subscription lead by non institutional investors (NII), and retail investors. Innova Captab IPO subscription status was 55.26 times.
Subscription status for the Innova Captab IPO: Non-institutional investors (NII) and retail investors lead the raucous response to the IPO on its third day of sales. The subscription status for the Innova Captab IPO was 55.26 times.
The Innova Captab IPO was fully booked on the second day of subscriptions, and investors have reacted favorably to it overall. On day two, the Innova Captab IPO subscription status was 3.54 times.
On day 1, the Innova Captab IPO received 1.41 subscriptions. The retail area was completely reserved. The subscription period for the Innova Captab IPO began on Thursday, December 21, and it ends on Tuesday, December 26. On Wednesday, December 20, Innova Captab Limited raised ₹171 crore from anchor investors.
The price range for the Nova Captab initial public offering (IPO) is ₹426 to ₹448 for each equity share with a face value of ₹10. The equity share face value is 42.60 times the floor price, and the equity share face value is 44.80 times the cap price. Based on diluted EPS, the price to earnings ratio for the fiscal year 2023 is 30.08 times at the floor price and 31.64 times at the cap price. The 33 equity shares in the Innova Captab IPO lot size are followed by multiples of 33 equity shares.
Innova Captab IPO has set aside a minimum of 15% of its shares for Non Institutional Investors (NII), a maximum of 50% of its shares for Qualified Institutional Buyers (QIB), and a minimum of 35% of the offer for Retail Investors.
Innova Captab is an Indian integrated pharmaceutical company that works across the whole pharmaceutical value chain, from product development to manufacturing, marketing, distribution, and exports.
The retail investor portion of the Innova Captab IPO was subscribed 17.15 times on day three, the NII portion was subscribed 64.95 times, and the QIB portion was booked 116.73 times.
Innova Captab IPO subscription status
BSE data indicates that bids for 50,16,69,597 shares of the 90,78,010 shares offered in the Innova Captab IPO have been received.
Bids were received for 7,85,72,439 shares of the 45,82,233 shares that were offered for the retail investors’ portion of the Innova Captab IPO.
The non-institutional investors portion of the Innova Captab IPO received bids for 12,75,40,116 shares, out of the 19,63,815 shares that were offered for this segment.
Innova Captab IPO’s QIBs segment saw bids for 29,55,57,042 shares, while the segment’s offer was for 25,31,962 shares.
Innova Captab IPO details
The offer, which has a face value of ₹10 per equity share, consists of a new equity share issuance of up to ₹320 crore and an offer-for-sale (OFS) of up to 55,80,357 equity shares by the promoter and selling shareholders.
This offer for the sale of equity shares by the Selling Shareholders is called the “Offer for Sale.” The OFS is made up of the following: up to 1,953,125 equity shares held by Vinay Kumar Lohariwala and Manoj Kumar Lohariwala (collectively, the “Promoter Selling Shareholders”); and up to 1,674,107 equity shares held by Gian Parkash Aggarwal (collectively, the “Other Selling Shareholder” and the “Selling Shareholders” in conjunction with the Promoter Selling Shareholders, the “Selling Shareholders”).
In order to meet its working capital needs, the company plans to use the net proceeds from the new issue to repay and/or prepay some outstanding loans, either in full or in part.
Kfin Technologies Limited is the registrar for the Innova Captab IPO, and ICICI Securities Limited and JM Financial Limited are the book running lead managers.
Innova Captab IPO GMP today
The grey market premium (GMP) for the Innova Captab IPO today is +90, which is less than the +140 of the previous session. According to investorgain.com, this shows that the price of Innova Captab shares were trading at a premium of ₹90 on the black market.
Based on the upper end of the IPO price range and the current premium in the grey market, the Innova Captab share price is expected to list at ₹538 per share, which is 20.09% more than the ₹448 IPO price.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Namaskaraindia.com. We advise investors to check with certified experts before making any investment decisions.
