Valiant Laboratories IPO: Pharmaceutical ingredient manufacturing firm Valiant Laboratories has decided to launch its initial share sale for public subscription on September 27.
The initial public offering (IPO), which is an entirely fresh issuance of 1.08 crore equity shares with no offer-for-sale component, will be concluded on October 3, according to the red herring prospectus filed with Sebi on Friday. The shares will be allotted on October 5, while the company’s share listing will take place on October 9. Further, bidding for anchor investors will open on September 26.
Proceeds of the issue will be utilised to set up a manufacturing facility for speciality chemicals in Gujarat through its subsidiary — Valiant Advanced Sciences Private Ltd. — and to meet the working capital requirements of the subsidiary company.
The IPO’s total issue size is 5,45,77,464 shares. Out of the total, 50 per cent has been reserved for qualified institutional buyers, 15 per cent for non-institutional investors, and 35 per cent for retail investors. Investors can bid for a minimum of 105 shares and in multiples thereof.
Yatra Online IPO GMP Today
According to market observers, the grey market premium of Valiant Laboratories remains zero currently. It means the grey market is expecting no listing gain from the public issue. Importantly, GMP of unlisted shares keeps changing based on the sentiments in the market.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
About Valiant Laboratories
Valiant Laboratories is an active pharmaceutical ingredient or bulk drug manufacturing company with its focus on manufacturing paracetamol, which is used in the treatment of headache, muscle ache, arthritis, backache, toothache, cold and fever.
The paracetamol API industry grew from Rs 2,200 crore in fiscal 2017 to Rs 3,900 crore in fiscal 2023 and going forward the industry is expected to clock a CAGR (Compound Annual Growth Rate) of 5-7 per cent between fiscal 2023 and fiscal 2027, largely driven by the demand from domestic formulation manufacturers as well as export.
Unistone Capital Pvt. is the sole book-running lead manager to the issue. Equity shares of the company will be listed on the BSE and NSE.
(With Inputs From PTI)
