Innova Captab IPO: Issue gets booked 1.41 times on day 1, GMP steady today; should you subscribe?

Innova Captab IPO opened for subscription on Thursday, December 21, and will close on Tuesday, December 26. Innova Captab IPO subscription status was 1. 41 times on day 1.

Innova Captab IPO price band has been set in the range of 426 to 448 per equity share of face value of 10. Innova Captab IPO lot size is 33 equity shares and in multiples of 33 equity shares thereafter. from anchor investors on Wednesday, December 20.

Innova Captab IPO has reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors. An integrated pharmaceutical company based in India, Innova Captab is involved in all aspects of the pharmaceutical value chain, including product development, manufacturing, marketing, distribution, and exports. Innova Captab IPO details A fresh issuance of equity shares up to 320 crore and an offer-for-sale (OFS) of up to 55,80,357 equity shares by the promoter and selling shareholders make up the offer of face value of 10 per equity share.

The OFS consists of the following: up to 1,953,125 equity shares held by Manoj Kumar Lohariwala; up to 1,953,125 equity shares held by Vinay 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”); this offer for the sale of equity shares by the Selling Shareholders is referred to as the “Offer for Sale “. The company proposes to utilise the net proceeds from the fresh issue towards repayment and / or prepayment in part or in full, of certain outstanding loans, funding the working capital requirements. The registrar for the Innova Captab IPO is Kfin Technologies Limited, and the book running lead managers are Limited and JM Financial Limited.

Innova Captab IPO GMP today Innova IPO GMP today or grey market premium is +100, similar to the previous trading session. This indicates Innova Captab share price were trading at a premium of 100 in the grey market, according to investorgain. com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Innova Captab share price is 548 apiece, which is 22. 32% higher than the IPO price of 448. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

Innova Captab IPO review Innova Captab is well-positioned for future growth, according to the brokerage, because of its solid reputation as a generic pharmaceutical manufacturer and its established connections with important CDMO clients. Its branded generics businesses, both in the United States and abroad, are expanding quickly. Rich in R&D resources, Innova Captab has consistently delivered strong financial results and runs extremely well.

On the other hand, competition continues to be a major issue. “While the IPO valuation at 31. 63x P/E might appear fully priced, recent strategic acquisitions, the upcoming new facility in Jammu, and continued R&D focus offer promising growth prospects.

Overall, Innova Captab’s strong market position, growth potential, and focus on innovation make it a promising investment, despite the competitive landscape and premium valuation. Thus we recommend a subscribe rating for this IPO,” the brokerage said. Ajcon Global Services At the upper price band of Rs.

448 the issue is valued at a P/E multiple 36. 45x its Q1FY24 post issue annualized EPS of 12. 29 and 37.

74x its FY23 post issue annualized EPS of 11. 87, compared to the industry average P/E multiple of 32. 17, which makes the issue expensive.

We recommend investors to ‘Subscribe for listing gains’,” the brokerage said. Livemint tops charts as the fastest growing news website in the world to know more. Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away!.