IPO screener: Innova Captab enters day 2

Updated - December 22, 2023 at 08:13 AM.

Provide subscribed 1.41 times; sign band ₹426–448

The ₹570-crore initial public offering of Innova Captab Exiguous, is an built-in pharmaceutical firm in India with a presence across the prescribed tablets sign chain along with analysis and pattern, manufacturing, drug distribution and marketing and exports, was subscribed fully on Day 1 of dispute opening on Thursday. The provide will end and Tuesday (December 26).

The dispute, with a demonstration band ₹426–448 , got bids for 1.27 crore shares as against an provide of 90.78 lakh shares. The market lot is 33 shares.

While up to 50 per cent of the provide is reserved for certified institutional traders, 15 per cnet is for non-Institutional bidders and 35 per cent for Retail Person Bidders. The section for QIBs was subscribed 0.44 times while quota of retail investors and non-establishment investors was subscribed 2.13 times and 0.96 times respectively.

The provide of face sign of ₹10 a equity share contains a unique dispute price up to ₹320 crore and an provide-for-sale (OFS) up to 55.80 lakh shares by Promoter and promoting shareholders price ₹250 crore. Promoters Manoj Kumar Lohariwala and his brother Vinay Kumar Lohariwala, and non-promoter Gian Parkash Aggarwal will seemingly be promoting shareholders in the OFS.

Before the IPO, the firm has garnered ₹171 crore from anchor investors by allotting 38.16 lakh shares at ₹448 a share on Wednesday.

Foreign and home Institutions who participated in the anchor guide were ICICI Prudential MF, Kotak Mahindra MF, Ashoka Whiteoak MF, SBI Existence Insurance, 360 One MF, Bandhan MF, Canara Robeco MF, Aditya Birla Sun Existence Insurance, Edelweiss MF, ITPL-Invesco MF, & others.

ICICI Securities Exiguous, and JM Financial Exiguous are the guide working lead managers and KFin Technologies Exiguous is the registrar to the provide. The equity shares are proposed to be listed on BSE and NSE.

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