Innova Captab IPO sees 3.54 times subscription, retail portion booked 5.02 times

Innova Captab IPO opens for second day of bidding

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

The pharmaceutical firm Innova Captab's IPO was subscribed 3.54 times on the second day of bidding on December 22, as investors bought 3.21 crore equity shares against an offer size of 90.78 lakh.

All investors provided decent support to the issue with retail participants buying 5.02 times the allotted quota and high networth individuals (non-institutional investors) 3.28 times the portion set aside for them.

Qualified institutional buyers picked shares 1.09 times the reserved portion.

The contract development and manufacturing organisation for the Indian pharmaceutical industry intends to mobilise Rs 570 crore through an initial public offering at the upper price band. The IPO consists of a fresh issue of shares worth Rs 320 crore and an offer-for-sale (OFS) of Rs 250 crore.

The selling shareholders in the OFS are Manoj Kumar Lohariwala and his brother Vinay Kumar Lohariwala, the promoters, and Gian Parkash Aggarwal, the non-promoter.

The price band for the offer, which was opened for subscription on December 21, is Rs 426-448 per share.

The Himachal Pradesh-based pharmaceutical finished dosage formulation manufacturing company, which owns two pharma facilities in the Baddi, will repay its debt of Rs 168 crore and spend Rs 72 crore for its working capital requirements, through the net fresh proceeds.

Innova Captab IPO shares were available at around 22 percent premium in the grey market over the upper price band, analysts on anonymity said. The grey market is an unofficial platform for trading in IPO shares till the listing.

This seems to be the last IPO of the current month as well as current calendar year. Including Innova, a total of 58 companies launched public issues worth Rs 52,637 crore in the current year, while in the current month, a total of 11 companies opened IPOs worth Rs 8,339 crore.