In a remarkable turn of events, pharmaceutical company Innova Captab Ltd witnessed an unprecedented demand for its initial public offering (IPO), with the issue being subscribed a staggering 55.26 times. The IPO, which opened for subscription on December 21, garnered immense interest from investors and closed on December 26. The basis of allotment was finalized on December 27, setting the stage for the eagerly awaited listing on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on December 29.
The IPO allotment process, overseen by registrar Kfin Technologies Ltd, is now in full swing. Investors are encouraged to check their allotment status on the IPO registrar’s portal or on the official websites of BSE and NSE. Successful applicants will witness the credit of Innova Captab shares in their demat accounts, while those who were not allotted shares will receive prompt refunds.
The overwhelming response to the IPO is a testament to the confidence investors have in Innova Captab Ltd, as they rushed to subscribe to the offering, recognizing the potential of the pharmaceutical firm. The robust subscription figures reveal the extent of the demand, with qualified institutional buyers (QIBs) leading the way by subscribing 116.73 times the reserved portion. High net worth individuals (HNIs) followed suit with a subscription rate of 64.95 times, and retail investors displayed substantial interest, subscribing 17.15 times the allotted quota.
Market observers noted that the grey market premium (GMP) for Innova Captab shares today stands at an impressive ₹86 per share. This indicates a significant premium over the IPO price of ₹448 per share. Taking into account the GMP and the issue price, the estimated listing price for Innova Captab shares is projected to be ₹534 apiece, marking a substantial 19.2% premium.
Investors keen on understanding the performance of Innova Captab in the market can keep a close eye on the GMP, as it provides insights into the sentiment of the grey market. The GMP represents the premium at which the shares are trading unofficially before the official listing, serving as an indicator of market expectations.
As the IPO allotment status is set to be finalized, investors can use the following steps to check their status on the Kfin Technologies Ltd website or the BSE and NSE websites:
Innova Captab On Kfin Technologies Ltd website:
- Visit the registrar Kfin Technologies’ website using the provided link: https://komic.kfintech.com/ipostatus.
- Select “Innova Captab Limited” in the “Select IPO” dropdown.
- Choose any one of the three options to check the status: Application No, Demat Account, or PAN.
- Enter the relevant details based on the selected option.
- Enter the Captcha and click Submit to view the Innova Captab IPO allotment status.
Innova Captab On BSE website:
- Visit the allotment page on BSE’s official website: https://www.bseindia.com/investors/appli_check.aspx.
- Under ‘Issue Type’, select ‘Equity’.
- Choose the IPO Option from the dropdown Menu under ‘Issue Name’.
- Enter PAN or application number.
- Confirm your identity by checking the ‘I am not a Robot’ box.
- Click the ‘Submit’ button to view the Innova Captab IPO allotment status.
This IPO marks the final public issue and listing of the year 2023, closing the year on a high note for Innova Captab Ltd. Investors are reminded to exercise caution, conduct thorough research, and make informed decisions before participating in IPOs, given the inherent risks associated with such investments. The remarkable subscription figures and positive market sentiment, however, suggest a promising start for Innova Captab as it gears up for listing on the stock exchanges.
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