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. At 17:42 IST, the Innova Captab IPO subscription status was 55.26 times.
The Innova Captab IPO was fully booked on the second day of subscriptions, and investors have reacted favorably to it generally. 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 received ₹171 crore from anchor investors.
The pricing range for the Innova 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, while 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 firm that works across the whole pharmaceutical value chain, from product research to production, marketing, distribution, and exports.
The retail investor component of the Innova Captab IPO was subscribed 17.15 times on day three, the NII portion was subscribed 64.94 times, and the QIB portion was booked 116.73 times.
Innova Captab IPO Skyrockets: Over 55 Times Subscribed, Creating Waves in the Market
According to BSE data, at 17:42 IST, bids were received for 50,16,57,882 shares of the Innova Captab IPO, against the 90,78,010 shares that were on offer.
Bids were received for 7,85,66,301 shares of the 45,82,233 shares that were offered for the retail investors’ part of the Innova Captab IPO.
The non-institutional investors’ component of the Innova Captab IPO got bids for 12,75,34,539 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, whereas the segment’s offer was for 25,31,962 shares.
Dive into the Thrilling Details of Innova Captab IPO – A Game-Changer in the Making
The offer, which has a face value of ₹10 per equity share, consists of a new equity share issue 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.
Market Buzz: Today’s Innova Captab IPO GMP Unveiled
The grey market premium (GMP) for the Innova Captab IPO today is +90, which is less than the +140 of the previous day. 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 pricing range and the existing 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.
A “grey market premium” denotes the willingness of investors to part with more money than the issue price.
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