Integrated pharmaceutical company Innova Captab on Monday fixed a price band of Rs 426-448 per share for its Rs 570-crore initial public offering (IPO).
The issue will open on December 21, and conclude on December 26, the company said.
The maiden public issue comprises a fresh issue of equity shares worth up to Rs 320 crore and an offer-for-sale (OFS) of up to 55.80 lakh equity shares by promoters and selling shareholders.
Those selling shares in the OFS are — Manoj Kumar Lohariwala, Vinay Kumar Lohariwala, and Gian Parkash Aggarwal.
At the upper end of the price band, the IPO is likely to fetch Rs 570 crore.
Proceeds from fresh issuance worth Rs 144.40 crore will be utilised for debt payment, Rs 23.60 crore for investment in the subsidiary UML, and Rs 72 crore for funding working capital requirements. Besides, a portion will be used for general corporate purposes.
Half of the issue has been reserved for qualified institutional buyers, 35 per cent for retail investors and the .
Posts in category Business Standard
Innova Captab’s IPO to open on Dec 21: Price band at Rs 426-448 per share (18-12-2023)
Siemens hits new summit, soars nearly 9% on plans to spin-off energy biz (18-12-2023)
Siemens board has authorized the management to commence exploratory steps as may be required to examine a potential demerger of the energy business.
Kellton Tech zooms 16%, hits 52-week high on inking pack with LIC (18-12-2023)
The engagement will impact over 150,000 LIC employees, empowering them with advanced HR solutions
India Shelter IPO allotment: How to check status and refund process? (18-12-2023)
The investors who applied for the issue can check India Shelter IPO allotment status in the registrar’s portal, and on the website of stock exchanges, BSE and NSE
Muthoot Microfin IPO: Issue size, GMP, financials, should you apply? (18-12-2023)
Muthoot Microfin IPO: Shares of the company are trading at a premium of Rs 90 in the unlisted market, translating into a listing premium of 31 per cent
HFCL hits 52-week high, zooms over 10% on heavy volumes (18-12-2023)
The stock has rallied over 21 per cent in the last two trading sessions after unveiling new products for the defence market.
Suraj Estate IPO opens today: Price band at Rs 340 to Rs 360 per share (18-12-2023)
The shares of Suraj Estate Ltd are available at a premium of Rs 70 in the grey market on Monday, which is Rs 14 higher from its weekend GMP of Rs 56
Solar Industries slides 11% after explosion at Nagpur plant kills 9 (18-12-2023)
The factory, as per reports, produces products for like industrial and military explosives, as well as propellants and warheads
Zee Ent slips 4% as it seeks to extend deadline for merger with Sony (18-12-2023)
The request to extend the deadline comes just a day after two independent directors were unable to secure the re-appointment of the company’s board
Gold, silver prices remain stable; yellow metal trading at Rs 62,510/10g (18-12-2023)
The price of 22-carat gold too remained unchanged, with the yellow metal selling at Rs 57,300