BackValiant Laboratories IPO: Issue fully booked on day 3; retail portion oversubscribed
Valiant Laboratories IPO subscribed 2.19 times on day 3, with retail investors portion subscribed 3.14 times and NII portion subscribed 1.52 times.
PremiumValiant Laboratories IPO subscription status today: Valiant Laboratories IPO has been subscribed 2.19 times on day 3.
Valiant Laboratories IPO opened for subscription on Wednesday, September 27, and closes on Tuesday, October 3. The company has fixed the price band at ₹133 to ₹140 per equity share for the proposed initial public offer.
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Valiant Laboratories 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.
On day 3, Valiant IPO retail investors portion was subscribed 3.14 times, NII portion was subscribed 1.52 times, and Qualified Institutional Buyers (QIB) portion were booked 1.04 times.
Valiant IPO subscription status details
Valiant Laboratories IPO has received bids for 1,67,11,065 shares against 76,23,030 shares on offer, according to data from the BSE.
Valiant IPO retail investors' portion received bids for 1,19,66,850 shares against 38,11,500 shares on offer for this segment.
Valiant Laboratories IPO's non-institutional investors' portion received bids for 24,75,900 shares against 16,33,500 on offer for this segment.
Valiant IPO Qualified Institutional Buyers (QIBs) portion received bids for 22,68,315 shares against 21,78,030 shares on offer for this segment.
Also Read: Valiant Laboratories IPO: Issue subscribed 71% on day 2; retail portion fully booked
Valiant Laboratories IPO details
Valiant IPO, which is worth ₹152.46 crores, is completely a fresh issue of 10,890,000 equity share; there is no offer for sale (OFS) component.
The company plans to use the net proceeds from the offering to fund its objectives as follows: an investment in Valiant Advanced Sciences Private Limited (VASPL), a wholly owned subsidiary, to partially fund its capital expenditure needs in connection with the establishment of a manufacturing facility for specialty chemicals at Saykha Industrial Area, Bharuch, Bharuch, Gujarat (Proposed Facility); an investment in VASPL to fund its working capital requirements; and to meet general corporate purposes.
The book-running lead managers for the Valiant IPO is Unistone Capital Private Ltd. Link Intime India Private Ltd is the IPO registrar.
Valiant Laboratories IPO GMP today
Valiant IPO GMP today or grey market premium is +17 higher similar the previous trading session. This indicates that the shares of Valiant IPO GMP today were trading at a premium of ₹17 in the grey market on Friday, according to topsharebrokers.com.
Considering the upper end of the Valiant IPO price band and the current premium in the grey market, the estimated listing price of Valiant share price was ₹157 apiece, which is 12.14% higher than the Valiant IPO issue price of ₹140.
Valiant IPO GMP on Tuesday, September 26 was ₹0, which meant Valiant Laboratories shares were trading at their issue price of ₹140 with no premium or discount in the grey market according to topsharebrokers.com
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Also Read: Valiant Laboratories IPO: Issue subscribed 33% on day 1; check GMP, other key details
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