Bookbuilding IPO | ₹570 Cr | Listed at BSE, NSE | Thu, Dec 21, 2023 - Tue, Dec 26, 2023
Innova Captab IPO is a book build issue of ₹570.00 crores. The issue is a combination of fresh issue of 0.71 crore shares aggregating to ₹320.00 crores and offer for sale of 0.56 crore shares aggregating to ₹250.00 crores.
Innova Captab IPO bidding started from Dec 21, 2023 and ended on Dec 26, 2023. The allotment for Innova Captab IPO was finalized on Dec 27, 2023. The shares got listed on BSE, NSE on Dec 29, 2023.
Innova Captab IPO price band is set at ₹448 per share. The lot size for an application is 33. The minimum amount of investment required by an retail is ₹14,784 (33 shares) (based on upper price). The lot size investment for sNII is 14 lots (462 shares), amounting to ₹2,06,976, and for bNII, it is 68 lots (2,244 shares), amounting to ₹10,05,312.
ICICI Securities Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Innova Captab IPO RHP for detailed Information.
IPO Open
Thu, Dec 21, 2023
IPO Close
Tue, Dec 26, 2023
Issue Price
₹448 per share
Market Cap (Pre-IPO)
₹2,563.70 Cr
| IPO Date | 21 to 26 Dec, 2023 |
| Listed on | Fri, Dec 29, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹426 to ₹448 |
| Issue Price | ₹448 per share |
| Lot Size | 33 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,27,23,214 shares (agg. up to ₹570 Cr) |
| Fresh Issue | 71,42,857 shares (agg. up to ₹320 Cr) |
| Offer for Sale | 55,80,357 shares of ₹10 (agg. up to ₹250 Cr) |
| Share Holding Post Issue | 5,72,24,929 shares |
| BSE Script Code / NSE Symbol | 544067 / INNOVACAP |
| ISIN | INE0DUT01020 |
Innova Captab IPO offers total 1,27,23,214 shares. Out of which 63,61,606 (50.00%) allocated to QIB, 25,44,643 (20.00%) allocated to QIB (Ex- Anchor), 19,08,483 (15.00%) allocated to NII 44,53,125 (35.00%) allocated to RII and 38,16,963 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 63,61,606 (50.00%) | NA |
| − Anchor Investor Shares Offered | 38,16,963 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 25,44,643 (20.00%) | NA |
| NII (HNI) Shares Offered | 19,08,483 (15.00%) | NA |
| − bNII > ₹10L | 12,72,322 (10.00%) | 2,753 |
| − sNII < ₹10L | 6,36,161 (5.00%) | 1,376 |
| Retail Shares Offered | 44,53,125 (35.00%) | 1,34,943 |
| Total Shares Offered | 1,27,23,214 (100.00%) |
Investors can bid for a minimum of 33 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 33 | ₹14,784 |
| Retail (Max) | 13 | 429 | ₹1,92,192 |
| S-HNI (Min) | 14 | 462 | ₹2,06,976 |
| S-HNI (Max) | 67 | 2,211 | ₹9,90,528 |
| B-HNI (Min) | 68 | 2,244 | ₹10,05,312 |
Innova Captab IPO raises ₹171.00 crore from anchor investors. Innova Captab IPO Anchor bid date is December 20, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Wed, Dec 20, 2023 |
| Shares Offered | 38,16,963 |
| Anchor Portion (₹ Cr.) | 171.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Jan 26, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Mar 26, 2024 |
Incorporated in January 2005, Innova Captab Limited is a pharmaceutical company operating in three business segments. Firstly, it provides contract development and manufacturing services to Indian pharmaceutical companies. Secondly, the company has a domestic business dealing in branded generics. And thirdly, the company has an international business that deals in branded generics.
The company's product portfolio includes tablets, capsules, dry syrups, dry powder injections, ointments and liquid medicines.
In the financial year 2023 and the three months ended June 30, 2023, the company produced and sold more than 600 different types of generics. These products were distributed under the company's own brands in the Indian market through a network of approximately 5,000 distributors and stockists and over 150,000 retail pharmacies. In addition, Innova Capitab exported its branded generic products to 20 and 16 countries in FY2023 and the three months ended June 30, 2023, respectively.
As of October 31, 2023, the company employed a team of 29 scientists and engineers in its research and development laboratory. The company's manufacturing facility is located in Buddi, Haryana
The company's customer base includes Cipla, Glenmark Pharmaceuticals, Wockhardt, Corona Remedies, Emcure Pharmaceuticals, Lupin, Medley Pharmaceuticals, Eris Healthcare, Zuventus Healthcare, Ajanta Pharma, Mankind Pharma, and others.
As of October 31, 2023, the company has 200 active product registrations and 20 registrations pending renewal with international authorities. In addition, 218 new registration applications are being processed with international authorities.
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 1,086.16 | 704.41 | 575.48 | 369.62 |
| Total Income | 234.37 | 935.58 | 803.41 | 412.03 |
| Profit After Tax | 17.59 | 67.95 | 63.95 | 34.50 |
| NET Worth | 294.27 | 276.46 | 208.56 | 144.78 |
| Reserves and Surplus | 317.51 | 228.51 | 196.61 | 132.82 |
| Total Borrowing | 441.90 | 235.19 | 198.18 | 45.03 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment and/or prepayment, in part or in full, of certain outstandingloans of the Company | 144.40 |
| 2 | Investment in our Subsidiary, UML, for repayment and / or prepayment in part or full of outstanding loans availed by UML | 23.60 |
| 3 | Funding the working capital requirements | 72.00 |
| 4 | General corporate purposes | 53.11 |
| KPI | |
|---|---|
| ROE | 24.58% |
| ROCE | 22.61% |
| Debt/Equity | 0.85 |
| RoNW | 24.58% |
| PAT Margin | 7.34% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 14.16 | |
| P/E (x) | 31.64 | 36.42 |
| Promoter Holding | 66.85% | |
| Market Cap | ₹2,563.70 Cr. |
The Innova Captab IPO is subscribed 55.26 times on December 26, 2023 6:07:00 PM (Day 3). The public issue subscribed 17.15 times in the retail category, 116.73 times in the QIB category, and 64.95 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 116.73 | 25,44,643 | 29,55,57,042 |
| NII | 64.95 | 19,08,482 | 12,75,40,116 |
| bNII (bids above ₹10L) | 71.59 | 12,72,322 | 9,37,27,524 |
| sNII (bids below ₹10L) | 51.65 | 6,36,161 | 3,38,12,592 |
| Retail | 17.15 | 44,53,125 | 7,85,72,439 |
| Total | 55.26 | 89,06,250 | 50,16,69,597 |
Total Application : 23,92,538
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMs and commissions (including underwriting commission, brokerage and selling commission) | 1.73 |
| 2 | Selling commission payable to SCSBs for Bids directly procured by them and processing fees payable to SCSBs for Bids (other than Bids submitted by RIIs using the UPI Mechanism) procured by the Members of the Syndicate, the Registered Brokers, CRTAs or CDPs and submitted to SCSBs for blocking, Bankers to the Offer, fees payable to the Sponsor Bank for Bids made by RIBs, Selling commission and uploading charges payable to Members of the Syndicate (including Sub-Syndicate Members), RTAs, CDPs, and Registered Brokers | 0.24 |
| 3 | Printing and stationery expenses | 0.19 |
| 4 | Advertising and marketing expenses | 0.48 |
| 5 | Listing fees, SEBI fees, BSE and NSE processing fees, book-building software fees, and other regulatory expenses | 0.50 |
| 6 | Fees payable to legal counsel | 0.74 |
| 7 | Fees payable to the statutory auditors, independent chartered accountants and industry expert | 0.48 |
| 8 | Miscellaneous | 0.42 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹448.00 | ₹448.00 |
| Open | ₹456.10 | ₹452.10 |
| Low | ₹452.00 | ₹452.10 |
| High | ₹547.30 | ₹542.50 |
| Last Trade | ₹545.15 | ₹541.40 |
Lead Manager Reports
Innova Captab IPO is a main-board IPO of 1,27,23,214 equity shares of the face value of ₹10 aggregating up to ₹570 Crores. The issue is priced at ₹448 per share. The minimum order quantity is 33.
The IPO opens on Thu, Dec 21, 2023, and closes on Tue, Dec 26, 2023.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Innova Captab IPO using UPI as a payment gateway. Zerodha customers can apply in Innova Captab IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Innova Captab IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Innova Captab IPO opens on Thu, Dec 21, 2023 and closes on Tue, Dec 26, 2023.
Innova Captab IPO lot size is 33, and the minimum amount required for application is ₹14,784.
You can apply in Innova Captab IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Innova Captab IPO will be done on Wednesday, December 27, 2023, and the allotted shares will be credited to your demat account by Thu, Dec 28, 2023. Check the Innova Captab IPO allotment status.
The Innova Captab IPO listing date is on Fri, Dec 29, 2023.
