Innova Captab IPO: All You Need to Know as Issue Opens for Subscription


by Sandip Das on 21 December 2023,  3 min read

Innova Captab IPO: All You Need to Know as Issue Opens for Subscription - MyDhanush Blogs by Ashika

The IPO for Innova Captab, based in Mumbai, began accepting subscriptions on December 21, 2023, and is scheduled to conclude on December 26, 2023.

Operating across the pharmaceuticals value chain, Innova Captab Limited engages in research and development, manufacturing, drug distribution, marketing, and exports.

Using two advanced manufacturing facilities, the company produces its range of products. Its in-house research and development (R&D) is instrumental in crafting a more sophisticated product portfolio and in drawing and retaining customers.

Price Band

The price range per share for Innova Captab has been set between Rs 426 and Rs 448.

Company Name Innova Captab Limited
Issue Period December 21-26, 2023
Issue Size – Number of Shares 1,30,92,094
Price Band Rs 426-448
Face Value Rs 10
Ticket Size Re 1
Market Lot 33
Minimum Bid Quantity 33
Maximum Bid Quantity for Qualified Institutional Investors 13092090
Maximum Bid Quantity for Non-Institutional Investors 6546045
Source: BSE
Offer Details

The pharmaceutical company aims to raise Rs 570 crore through the IPO. This consists of a fresh issuance of shares valued at Rs 320 crore and an offer-for-sale (OFS) of Rs 250 crore worth of shares. 

Also Read: Azad Engineering IPO: All You Need to Know as Issue Opens for Subscription

Promoters Manoj Kumar Lohariwala and Vinay Kumar Lohariwal will be selling 19.53 lakh equity shares each in the OFS, while Gian Parkash Aggarwal, a public shareholder, will sell 16.74 lakh shares.

Lot size

The minimum bidding requirement for investors is set at 33 equity shares, with subsequent bids allowed in multiples of 33. Retail investors would need to invest a minimum of Rs 14,058, while at the higher end, the bidding amount would increase to Rs 14,784.

Issue’s Merchant Bankers

The issue’s merchant bankers are ICICI Securities and JM Financial, with KFin Technologies serving as the offer’s registrar.

Innova Captab Financials

During FY21-FY23, the pharmaceutical company achieved a revenue growth of 50.2 percent annually, reaching Rs 926.4 crore by the fiscal year ended in March FY23. Similarly, the CDMO (Contract Development and Manufacturing Organization) business experienced a growth of 35.36 percent annually during the same period, reaching Rs 679.6 crore in FY23.

Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.

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