Valiant Laboratories IPO: Issue subscribed 33% on day 1; check GMP, other key details
- Valiant Laboratories IPO price band has been fixed at ₹133 to ₹140 per equity share. The IPO lot size is 105 equity shares and the minimum investment amount required by retail investors is ₹14,700.
Valiant Laboratories IPO: The initial public offering (IPO) of active pharmaceutical ingredient (API) manufacturing company Valiant Laboratories opened for public subscription today, September 27.
Valiant Laboratories IPO will remain open till October 3 and the company is aiming to raise ₹152 crore from the share sale.
Valiant Laboratories specialises in manufacturing Paracetamol as an Active Pharmaceutical Ingredient (API) or Bulk Drug. A manufacturing facility owned by Valiant Laboratories is located in Palghar, Maharashtra, India.
Let us take a look at Valiant Laboratories IPO subscription status, GMP today and other key details:
Valiant Laboratories IPO Subscription Status
Valiant Laboratories IPO has been subscribed 33% on Wednesday, the first day of the bidding process. As per the data available on National Stock Exchange (NSE), the public issue received 24,81,045 shares against 76,23,030 shares on offer
The IPO has been booked 62% in the retail category and 11% in the Non-Institutional Investors’ category. The Qualified Institutional Buyers (QIB) are yet to place their bids.
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Valiant Laboratories IPO GMP Today
Valiant Laboratories IPO GMP today, or grey market premium today, is ₹0, as per market observers. This means Valiant Laboratories shares were trading at their issue price of ₹140 with no premium or discount in the grey market.
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Valiant Laboratories IPO Details
Valiant IPO opened for subscription on Wednesday, September 27, and will close on Tuesday, October 3. Valiant Laboratories IPO's basis of allotment of shares is expected to be finalised on October 5 and the company will initiate refunds on October 6, while the shares will be credited to the demat account of allottees on the same day.
Valiant Laboratories shares are likely to be listed on BSE and NSE on Monday, October 9.
Valiant Laboratories IPO price band has been fixed at ₹133 to ₹140 per equity share. The IPO lot size is 105 equity shares and the minimum investment amount required by retail investors is ₹14,700.
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Valiant Laboratories is promoted by Shantilal Shivji Vora, Santosh Shantilal Vora and Dhanvallabh Ventures LLP.
Valiant Laboratories IPO issue size is ₹152.46 crore which is completely a fresh issue of 1.08 crore equity shares. There is no offer for sale (OFS) component in the Valiant IPO.
The company has already raised ₹45.74 crore from anchor investors on September 26, a day ahead of its IPO opening.
The anchor investors include Leading Light Fund VCC - The Triumph Fund - who bought shares worth ₹20 crore - the highest among all anchor investors of the issue. Additionally, Saint Capital Fund, Astorne Captal VCC - Arven, and Negen Undiscovered Value Fund were also among the anchor investors.
Unistone Capital Private Ltd is the book-running lead manager for the Valiant IPO, while Link Intime India Private Ltd is the IPO registrar.
The company 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.
The API manufacturer plans to use the net proceeds from the offering to invest in its wholly owned subsidiary, partially fund its capital expenditure needs for a proposed manufacturing facility and for general corporate purposes.
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