Innova Captab Ltd.'s initial public offering was subscribed 1.4 Times on the first day on Thursday.
The company has established a price band of Rs 426–448 per share for its Rs 570-crore IPO, which is set to conclude on Dec 26.
The primary public offering includes a new issuance of equity shares amounting to Rs 320 crore and an offer for sale of up to 55.8 lakh equity shares by promoters and selling shareholders.
The company has mopped Rs 171 crore from anchor investors. It allocated 38.17 lakh equity shares to 17 funds at Rs 448 each, which represents the upper limit of the specified price range, according to a BSE circular.
Business
Innova is an integrated pharmaceutical company in India with a presence across the pharmaceuticals value chain, including research & development, manufacturing, drug distribution & marketing and exports.
The business includes:
Contract development and manufacturing organisation business, providing manufacturing services to Indian pharmaceutical companies.
Domestic branded generics business and
international branded generics business.
The branded generics business consists of the development, manufacture and distribution of generic formulation products, which are marketed and distributed in India under its own brand names through online and offline channels.
The company has developed a diversified branded generics product portfolio, including tablets, capsules, dry syrups, dry powder injection, ointments and liquid orals.
Subscription Status: Day 1
The IPO was subscribed 1.4 times as of 5 p.m. on Thursday.
Institutional investors: 0.44 times or 44%
Non-institutional investors: 0.96 times or 96%
Retail investors: 2.12 times
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