Innova Captab IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Dec 27, 2023Indian Pharmaceutical Company Innova Captab Limited has filed the preliminary documents with the capital market regulator for its IPO. The Innova Captab IPO consists of a fresh issue for Rs. 320.00 crores and an offer for sale for 96 lakh equity shares to be offered by the company’s existing shareholders.
In this Innova Captab IPO Review, we will learn about all the details of this IPO from its importance, quantum, objects, important persons, and all details of the company.
So, let’s start the review.
| Face Value | Rs 10 |
| Price Band | Rs 426 to Rs 448 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 33 Shares |
| Listing Date | December 29, 2023 |
| Offer for Sale | Rs 250.00 Cr. |
| Fresh Issue | Rs 320.00 Cr. |
| IPO Size | Rs 570.00 Cr. |
| Tick Size | 1 |
Innova Captab IPO Overview
Registered in 2005, Innova Captab operates in the pharmaceutical contract manufacturing segment. It has a remarkable presence in the Indian market.
To take its operations one step ahead, the company is planning to raise funds from the public and get its shares listed on the mainboard stock exchanges. The Innova Captab IPO comprises a fresh issue and offers for sale.
Innova Captab IPO Important Dates
| Events | Date |
| IPO Opening Date | December 21, 2023 |
| IPO Closing Date | December 26, 2023 |
| Basis of Allotment Finalization | December 27, 2023 |
| Refunds Initiation | December 28, 2023 |
| Credit of Shares to Demat Account | December 28, 2023 |
| Share Listing Date | December 29, 2023 |
Innova Captab IPO Dates have not been out as of now. The company filed its Draft Red Herring Prospectus (DRHP) in late June 2022. The company will take the IPO process further after the authority approves the DRHP.
IPO dates are finalized after considering all the material elements that will affect the outcome of the IPO proceedings. Some factors can be market conditions, the economy, major worldwide events, etc.
Innova Captab IPO Price, Size, Share Offerings
| Face Value | Rs.10 |
| Price Band | Rs 426 to Rs 448 |
| Offer for Sale | Rs 250.00 Cr. |
| Fresh Issue | Rs 320.00 Cr. |
| IPO Size | Rs 570.00 Cr. |
Innova Captab IPO Size consists of a Fresh Issue of Equity Shares aggregating up to Rs. 320.00 crores and an Offer for Sale for 96 lakh equity shares. The face value of the shares is Rs. 10 each. Innova Captab IPO Price will be determined by way of the Book Building Process.
In consultation with the BRLMs, the company might consider a pre-IPO placement of shares for up to Rs. 80 crores through a private placement, preferential offer, or any other method permitted under applicable law.
Innova Captab IPO Grey Market Premium
| Date | GMP (Rs.) | Kostak Rate (Rs.) | Subject to Sauda (Rs.) |
| 27 Dec 2023 | Rs 110 | NA | Rs 3000 |
| 26 Dec 2023 | Rs 140 | NA | Rs 3500 |
| 25 Dec 2023 | Rs 100 | NA | Rs 2500 |
| 22 Dec 2023 | Rs 100 | NA | Rs 2500 |
| 21 Dec 2023 | Rs 210 | NA | Rs 5000 |
| 20 Dec 2023 | Rs 210 | NA | Rs 5000 |
| 19 Dec 2023 | Rs 210 | NA | Rs 5000 |
| 18 Dec 2023 | Rs 210 | NA | Rs 5000 |
| 17 Dec 2023 | Rs 100 | NA | NA |
Grey Market Premium is the amount at which the shares of a company launching an IPO in the market are traded. The price fluctuates according to the trading in the shares. This market’s trading becomes more active before the IPO opening and listing on the stock exchange.
Innova Captab IPO GMP will play an essential role in estimating the stock listing price on the stock market. It is a helpful tool.
Innova Captab IPO Subscription Status
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 21st Dec | 0.44x | 1.00x | 2.26x | 1.47x |
| 2nd Day – 22nd Dec | 1.08x | 3.38x | 5.22x | 3.64x |
| 3rd Day – 26th Dec | 116.73x | 64.95x | 17.15x | 55.26x |
| Shares Offered or Net Issue | 2,544,643 | 1,908,482 | 4,453,125 | 12,723,213 |
The Innova Captab Issue is proposed to be listed on the National Stock Exchange and Bombay Stock Exchange. Both are mainboard exchanges and competitors of each other. The company has received in-principle approval from both exchanges.
The Innova Captab IPO Subscription period will be between 3 to 10 days, as the regulations say. During this period, the investors will place bids for allotment shares in Innova Captab.
Innova Captab IPO Allotment Status
The allotment process is the next step after the subscription. The shares are credited to the Demat accounts of the successful bidders in the allotment process. The company first determines the allotment basis based on which the allotment will be made.
Innova Captab IPO Allotment will be undertaken after the company receives all applications for share allotment.
Innova Captab IPO Live Performance
Check out the Innova Captab IPO Performance in an instance with us and stay updated with the Innova Captab IPO Price.
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Innova Captab – Company Review
Originally incorporated as Harun Health Care Private Limited in 2005, the company initiated its journey in Mumbai, Maharashtra. In 2009, the company changed its name to ‘Innova Captab Private Limited,’ and nearly after ten years, it was converted to a public limited company. Consequently, its name was changed to Innova Captab Limited.
Innova Captab is an integrated pharmaceutical company undertaking operations like manufacturing, research, development, drug distribution, and marketing. The company has a presence in the Indian Market, and it also makes exports to other countries, giving it a larger consumer base.
Products or Services
The operations of Innova Captab are diverse and include a wide product portfolio. They have developed multiple branded generic products like dry syrups, tablets, capsules, dry powder injections, liquid orals, and ointments.
Some of the therapeutic areas covered by their products are:
- Cephalosporins
- Antiemetic
- Antioxidant and Vitamins
- Antidiabetic
- Cardiovascular
- Antihyperuricemia and Antigout
- Fluoroquinolone and Macrolide
- Proton Pump Inhibitor
- Anticholinergic and Heparin.
Promoters and Holding
The promoters of Innova Captab Limited are:
- Manoj Kumar Lohariwala
- Vinay Kumar Lohariwala
The Management of the company comprises the following:
- Manoj Kumar Lohariwala, in the position of Chairman and Whole-time Director
- Vinay Kumar Lohariwala, in the position of Managing Director
- Jayant Vasudeo Rao, in the position of Whole-time Director
- Archit Aggarwal, in the position of Non-Executive Director
- Sudhir Kumar Bassi, in the position of Non-Executive Independent Director
- Shirish Gundopant Belapure, in the position of Non-Executive Independent Director
- Priyanka Dixit Sibal, in the position of Non-Executive Independent Director
- Mahender Korthiwada, in the position of Non-Executive Independent Director
- Rishi Gupta, in the position of Chief Financial Officer
- Neeharika Shukla, in the position of Company Secretary and Compliance Officer
- Satyendra Kumar, in the position of Vice President – Operations
- Sujitkumar Dana, in the position of Vice President – Research and Development
- Jitender Singh Narula, in the position of General Manager – Plant
- Arun Mangla, in the position of General Manager – Production
- Jatinder Singh Mahant, in the position of General Manager – Regulatory Affairs
- Tarang Sharma, in the position of Deputy General Manager – Quality Control and Regulatory Affairs
- Romit Tyagi, in the position of Senior Manager – Quality Assurance
Is Innova Captab good for Investment?
The integrated pharmaceutical company has a presence in India across the pharmaceutical value chain. Its operations include research, product development, and manufacturing services to various pharmaceutical companies, domestic generic brands, and international businesses.
For catering its services effectively, Innova Captab has two manufacturing facilities. One is situated in Baddi, Himachal Pradesh, and another newly established facility is in Jammu.
The company has two promoters – Manoj Kumar Lohariwala and Vinay Kumar Lohariwala, the two pillars that set the cornerstone of this company.
Innova Captab Financial Statements
| Amount (in INR & Million) | ||||
| 30-Jun-23 | 31-Mar-23 | 31-Mar-22 | Mar-21 | |
| Assets | 10,861.58 | 7,044.14 | 5,754.75 | 3,696.16 |
| Revenue | 2,343.68 | 9,355.78 | 8,034.09 | 4,120.33 |
| Expense | 2,097.69 | 8,437.83 | 7,176.89 | 3,656.89 |
| Profit After Tax | 175.93 | 679.54 | 639.53 | 345.00 |
Innova Captab’s financial performance has taken a high road along the year, it has reflected some growing financial results.
In the past years, the company’s total revenues were – Rs.9,355.78 million as of 31st March 2023, Rs. 8,034.09 million as of 31st March 2022, and Rs 4,120.33 million as on 31st March 2021.
And the profits for the years 2023, 2022, and 2021 were – Rs. 679.54 million, Rs. 639.53 million, and Rs. 345.00 million, respectively.
In the six months of the year 2023, ending on 30th June 2023, the company’s revenue was Rs. 2,343.68 million, and the profits for the same period were Rs. 175.93 million.
| Earnings per Equity Share (in Million) | ||||
| 30-Jun-23 | 31-Mar-23 | 31-Mar-22 | Mar-21 | |
| Basic & Diluted | 3.67 | 14.16 | 13.32 | 7.19 |
Innova Captab’s EPS moved at a better pace this year, from Rs. 14.16 in March 2023 to Rs. 3.67 in June 2023.
Innova Captab IPO Review
Innova Captab IPO is a combination of a fresh share issue and an offer for sale by the promoters and promoter group of the company.
Both the promoters, Manoj Kumar Lohariwala and Vinay Kumar Lohariwala, along with Gian Parkash Aggarwal, will be lowering their stakes in the company through the sale of 32 lakh shares each.
The selling shareholders will receive the proceeds from the share sale, while the company will receive the proceeds from the fresh issue.
Innova Captab will be utilizing the funds towards the repayment of the company’s debts and a loan taken by its subsidiary.
Innova Captab IPO Details
Here are a few more details you need to know before investing in Innova Captab IPO –
Innova Captab IPO Issue Object
The Innova Captab has proposed diverse objectives for making the IPO offer and some of the objectives are:
- Repayment and/or prepayment in part or in full, of certain outstanding loans of our Company;
- Investment in our Subsidiary, UML, for repayment and/or prepayment in part or full of an outstanding loan availed by UML;
- Funding our working capital requirements; and
- General corporate purposes
Innova Captab IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Leading presence and one of the fastest-growing CDMOs in the Indian pharmaceutical formulations market;
- Well-established relationships with our marquee CDMO customer base;
- Highly efficient operations, including our world-class manufacturing facilities and supply chain;
- Rapidly growing domestic and international export branded generics businesses;
- Strong R&D focus to build an increasingly complex product portfolio and attract and retain customers;
- Consistent financial performance; and
- Experienced promoters and management team;
Quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-23 | 14.16 | 24.58 | 57.60 |
| 31-Mar-22 | 13.32 | 30.66 | – |
| Mar-21 | 7.19 | 23.83 | – |
Innova Captab IPO Lead Managers
Here are the list of Lead managers –
- ICICI Securities Limited
- JM Financial Limited
Innova Captab IPO Registrar to offer
Check out the details of the registrar here –
KFin Technologies Limited
Selenium, Tower B, Plot No – 31 and 32, Financial District
Nanakramguda, Serilingampally
Hyderabad, Rangareddi 500 032
Telangana, India
Telephone: + 91 40 6716 2222
Email: innovacaptab.ipo@kfintech.com
Investor grievance e-mail: einward.ris@kfintech.com
Website: www.kfintech.com
Contact person: M Murali Krishna
SEBI Registration No: INR000000221
Innova Captab IPO – Other Details
- Statutory Auditor – B S R & Co. LLP,
- Legal Counsel to the Company – Khaitan & Co
- Bankers to the Company – State Bank of India, The Hong Kong and Shanghai Banking Corporation Limited, and Yes Bank Ltd.
Innova Captab IPO – Conclusion
The Innova Captab has been in operation since 2005. The company caters to domestic companies and international companies. They have captured a materialistic portion of the market.
The IPO has fresh share issues and Share sales by the existing shareholders. The IPO is being brought to pay the company’s debts and lower its liabilities. This will improve the company’s financial image and will help it operate efficiently in the future.
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Innova Captab IPO Review FAQs
Check out the FAQs on Innova Captab IPO –
What is the Issue Size of Innova Captab IPO?
The Company is making an initial public offer of 5,580,357 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Innova Captab IPO?
The price band for this particular IPO ranges between Rs 426 to Rs 448. As far as the face value of the share is concerned, it is Rs.10 per share.
What is the Innova Captab IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on December 21, 2023, while the closing date is set at December 26, 2023.
What is the Innova Captab IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on December 27, 2023, refund initiation is on December 28, 2023, credit of shares is on December 28, 2023, and share listing date is on December 29, 2023.
What is the Innova Captab IPO Listing Date?
Shares of this company shall be listed in the exchanges on December 29, 2023. The date, when the listing would be done, is stagnant on December 29, 2023.
Who is the Registrar of Innova Captab IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. KFin Technologies Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Innova Captab IPO?
Here are the promoters of this IPO – Manoj Kumar Lohariwala And Vinay Kumar Lohariwala. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Innova Captab IPO?
They have obtained the GMP of this IPO and it is Rs 110. Further insights into the Kostak rate and subject to sauda or SS are also included in this report.
Is Innova Captab IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years.
You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Innova Captab Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2023 in Million is 679.54, 2022 is 639.53, and 2021 is 345.00. PAT from Jun 2023 is 175.93.
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