Introduction:
Innova Captab Limited is set to make waves with its upcoming Innova Captab IPO, a book-built issue totaling Rs 570.00 crores. This includes a fresh issue of 0.71 crore shares (Rs 320.00 crores) and an offer for sale of 0.56 crore shares (Rs 250.00 crores).
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Innova Captab IPO Details:
The bidding for Innova Captab IPO commenced on December 21, 2023, and will conclude on December 26, 2023. Expect the allotment results on Wednesday, December 27, 2023, with a tentative listing date on Friday, December 29, 2023.
Price Band and Lot Size:
The IPO’s price band is set at ₹426 to ₹448 per share, with a minimum lot size of 33 shares. Retail investors need a minimum investment of ₹14,784, while substantial investments for sNII and bNII stand at ₹206,976 and ₹1,005,312, respectively.
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Reservation Breakdown:
Innova Captab IPO allocates 20.00% to QIB, 15.00% to NII, 35.00% to RII, and 30.00% to Anchor investors. Retail investors get a piece of the pie with 35.00%.
Anchor Investors:
The IPO raised Rs 171.00 crores from anchor investors, and the anchor lock-in period spans 30 to 90 days.
Company Overview:
Incorporated in January 2005, Innova Captab Limited operates in contract development, domestic branded generics, and international branded generics. Its diverse product portfolio includes tablets, capsules, syrups, injections, ointments, and liquid medicines.
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Financial Snapshot (Restated Consolidated):
Between March 31, 2022, and March 31, 2023, revenue increased by 16.45%, and profit after tax rose by 6.26%.
IPO GMP Analysis:
The grey market price (GMP) for Innova Captab IPO has shown a positive trend, starting at ₹210 and climbing steadily. As of December 22, 2023, the GMP stands at ₹100.
Key Dates:
- IPO Opens: December 21, 2023
- IPO Closes: December 26, 2023
- Allotment: December 27, 2023
- Refunds Initiation: December 28, 2023
- Demat Credits: December 28, 2023
- Listing Date: December 29, 2023
Lot Size Details:
Investors can bid for a minimum of 33 shares, with variations for different investor categories. Retail investors can bid for a maximum of 13 lots, amounting to ₹192,192.
IPO Objectives:
The Innova Captab IPO’s net proceeds will be used for loan repayment, subsidiary investment, working capital, and general corporate purposes.
GMP Trend:
The GMP has been on an upward trajectory, signaling a potential listing premium. As of December 22, 2023, the GMP is ₹100.
How to Apply:
Investors can apply for a minimum lot size and multiples thereof. The table outlines lot sizes for different investor categories.
Quota Allocation:
The QIB, Retail, and HNI categories are allocated 50.00%, 35.00%, and 15.00%, respectively.
Key Takeaways:
- Listing Price Projection: With a GMP of ₹100, the projected listing price is approximately ₹658 per share.
- Promoter Stake: The promoters’ stake will decrease from 66.85% to 51.68% post IPO.
- Allocation Breakdown: QIBs get 50.00%, Retail gets 35.00%, and HNIs/NII get 15.00%.
In conclusion, the Innova Captab IPO presents an exciting opportunity in the pharmaceutical sector, backed by strong financials and positive market sentiments. Investors should closely monitor the GMP trend and subscription numbers for a comprehensive assessment.
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