Innova Captab IPO: Subscriptions Incerease By 55.26 Times On Day 3
Innova Captab IPO
The IPO of Innova Captab, a pharmaceutical company, continued to attract significant attention from investors on the third day of bidding.
Subscription Details
The IPO, initially subscribed 1.41 times on Day 1 and 3.65 times on Day 2, it raised Rs 570 crore through its initial stake sale.
IPO Price Band
The price band for the IPO is set at Rs 426-448 per share, with a minimum bid requirement of 33 equity shares and multiples thereof.
Fund Utilisation
Innova Captab plans to raise Rs 570 crore through a fresh issue, while existing shareholders are selling 55,80,357 equity shares via Offer for Sale (OFS).
Bidding Statistics
As of 1:15 pm on Day 3, investors bid for 10,41,26,352 equity shares, representing 11.47 times the offered shares.
Bidding Conclusion
The three-day bidding process, initiated on December 21, is set to conclude today.
Subscription Rates
Non-Institutional Investors (NIIs) subscribed 24.43 times, retail portion 11.43 times, and Qualified Institutional Bidders (QIBs) 1.48 times.
Business Overview
Established in 2005, Innova Captab operates in contract development, manufacturing, and domestic and international generics business segments.
Product Portfolio
The companys product range includes tablets, capsules, injections, ointments, and liquid medicines. It exports branded generics to 20 and 16 countries in specified periods.