Innova Captab Ltd IPO opens on December 21. Check IPO Details Issue Date Price

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Innova Captab Ltd IPO opens on December 21. Check IPO Details Issue Date Price

December 21, 2023
Innova Captab Ltd IPO opens on December 21. Check IPO Details Issue Date Price

Innova Captab Limited is coming out with a fresh public issue to raise Rs 570 crores from the market.

Below are the details of the Innova Captab Limited IPO:

  • Issue opens – December 21 (Thursday)
  • Issue closes – December 26 (Tuesday)
  • Issue size – Rs 570 crores
  • Price band – Rs 426 to 448 per equity share
  • Bid lot – 33 shares and in multiples thereof

And here are some details of the company and further details on the Innova Captab Limited IPO.

Company details:

  • Innova Captab Limited (“Innova Captab”) was incorporated on January 3, 2005. Innova Captab is an integrated pharmaceutical company in India with a presence across the pharmaceuticals value chain including research and development, manufacturing, drug distribution and marketing and exports. Their business includes (i) a contract development and manufacturing organization (“CDMO”) business providing manufacturing services to Indian pharmaceutical companies, (ii) a domestic branded generics business and (iii) an international branded generics business. 
  • In Fiscal 2022, among Indian formulation CDMO players considered in the CRISIL Report, they recorded the 3rd highest operating revenue, the 2nd highest operating profit margin, the 3rd highest net profit margin and the 2nd highest return on capital employed. 
  • Company’s comprehensive CDMO formulation capabilities allow them to offer their customers multiple dosage forms, including oral solids, oral liquids, dry syrups and injectables, as well as more complex delivery forms such as modified and sustained release forms and tablets in capsules. They also have added products using new technologies like nano technology.
  • In Fiscal 2023 and in the 3 months ended June 30, 2023, they had 182 and 133 CDMO customers, respectively. 
  • In Fiscal 2023 and in the 3 months ended June 30, 2023, they manufactured a diverse generics product portfolio of over 600 products and market them under their own brands in the Indian market through a developed network of approximately 5,000 distributors and stockists and over 150,000 retail pharmacies. 
  • In addition, during Fiscal 2023 and the 3 months ended June 30, 2023, they exported branded generic products to 20 and 16 countries, respectively. 
  • Innova Captab has 2 manufacturing facilities in Baddi, Himachal Pradesh. They were ranked 3rd among their peers in terms of their finished tablet and capsule manufacturing capacity in India. They have a dedicated R&D laboratory and pilot equipment located at their manufacturing facility in Baddi. In addition, they are looking to establish a new R&D centre in Panchkula, Haryana.
  • The company acquired Sharon pursuant to CIRP under the IBC and infused ?195.40 crore into Sharon on June 26, 2023.

Issue Size: Rs. 570 crores

Issue break-up:

QIB – 50% of the offer – Rs 285.00 crores

NIB – 15% of the offer – Rs 85.50 crores

RET – 35% of the offer – Rs 199.50 crores

Listing: BSE and NSE

Registrar: KFin Technologies Limited

UPI: All Retail & NII bidders' (bids up to Rs. 5,00,000) applications through brokers are compulsorily in UPI Mode.

Note:

Application made using third-party UPI or ASBA Bank A/c are liable to be rejected.

The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs 5,00,000) shall expire at 5 PM on the closing day of the IPO i.e. Tuesday, December 26, 2023     

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