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Innova Captab’s IPO to open on Dec 21: Price band at Rs 426-448 per share
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 .