Innova Captab IPO details: The initial public offering (IPO) of Innova Captab opened for subscription on Thursday, December 21, with a price band of Rs 426–Rs 448 per share. The IPO of the pharmaceutical company will remain open for subscription for three trading days, i.e., until December 26 from 10 am to 5 pm. Innova Captab's IPO, worth an estimated Rs 570 crore, comprises fresh issuance of shares worth Rs 320 crore and an offer for sale of 56 lakh shares.

Innova Captab IPO review: Should you subscribe to the Innova Captab IPO? Here is what Anil Singhvi suggests

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Zee Business Managing Editor Anil Singhvi suggests investors apply for the Innova Captab IPO for a small listing gain and for the long term. 

Positive

  • Experienced promoters
  • Strong growth record of CDMO business
  • New unit in Jammu to fuel growth
  • Reasonable valuations

Negative

  • Huge competition
  • Lower margins than peers

Innova Captab IPO subscription status

On Thursday (Day 1), Innova Captab IPO's share sale received bids for 1,27,46,118 shares against 90,78,010 shares on offer. Overall, the public issue has been subscribed 1.40 times on Day 1 of the bidding process.

Category Subscription (No. of times the equity reserved)
Qualified institutional buyers  0.44
Non-institutional investors 0.96
Retail investors 2.12
Overall 1.40
Source: Exchange data

Here are some of the key details about the Innova Captab IPO:

  • Innova Captab IPO date: December 21, 2023 - December 26, 2023

  • Innova Captab IPO face value: Rs 10 per share

  • Innova Captab IPO price band: Rs 426 to Rs 448 per share

  • Innova Captab IPO lot size: 33 shares

  • Innova Captab IPO allotment date: Wednesday, December 27, 2023 (tentatively)

  • Innova Captab IPO listing date: Friday, December 29, 2023 (tentatively)

Innova Captab IPO: Book leading managers

ICICI Securities and JM Financial are the book-running lead managers of the Innova Captab IPO, and Kfin Technologies is the registrar for the issue.

What does Innova Captab do?

Incorporated in 2005, Innova Captab is a pharmaceutical company operating in three business segments. It provides contract development and manufacturing services to Indian pharmaceutical companies. The company also has a domestic business dealing in branded generics. Furthermore, the company has an international business that deals in branded generics.

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