Innova Captab IPO: A Comprehensive Guide to the 570 Crore Health Care Offering Opening in December 2023
Innova Captab IPO: The health care company Innova Captab has opened its IPO worth 570 crores. Get all the details before considering an investment.
The month of December is crucial for IPOs, and another significant one has entered the market today. The IPO of Innova Captab, a leading health care company, has been launched, aiming to raise a total of 570 crores. If you’re thinking about participating in this IPO, we’re here to provide you with all the details.
Important dates related to the Innova Captab IPO:
The IPO of Innova Captab is open for investors from December 21st to December 26th. The face value of the shares in this IPO is 10 rupees. The company has specified that investors must purchase a minimum of 33 shares. Retail investors can bid for a maximum of 13 lots, totaling 429 shares. Consequently, retail investors can place bids ranging from a minimum of 14,784 rupees to a maximum of 1,92,192 rupees. The company will allot shares to subscribers on December 26th. Refunds for unsuccessful investors will be processed by December 28th, and shares will be transferred to demat accounts on the same day. The listing of shares on BSE and NSE is scheduled for December 28th.
Price Band Determination:
Innova Captab has set the price band for its IPO between 426 and 448 rupees. Out of the 570 crore IPO, 320 crores worth of fresh shares are being issued, while shares worth 250 crores are offered for sale. The IPO has reserved 50% for Qualified Institutional Buyers (QIB), 35% for retail investors, and 15% for High Net Worth Individuals (HNI).
Current GMP Status:
The Grey Market Premium (GMP) for Innova Captab’s IPO indicates strong listing prospects. As of now, the GMP stands at 211 rupees. If this trend continues until the listing day, investors could potentially earn a robust profit of 47.1%, and the shares may be listed on BSE and NSE at 659 rupees.
Utilization of Funds:
Innova Captab is a pharmaceutical company based in Himachal Pradesh, operating in the health care sector. The funds raised through this IPO, totaling 570 crores, will be utilized to repay a debt of 186 crores. Additionally, some funds will be used for working capital requirements and to fulfill certain corporate objectives.
