Valiant Laboratories IPO: Valiant Laboratories, a manufacturer of pharmaceutical ingredients, has decided to launch its first share sale for public subscription on September 27.
The initial public offering (IPO), a brand new equity issue of Rs 1.08 crore with no offer for sale component, will be completed on October 3, according to the 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. Moreover, bidding for anchor investors will begin on September 26.
The proceeds from the issue will be used to set up a specialty chemicals manufacturing facility in Gujarat through its subsidiary Valiant Advanced Sciences Private Ltd. and to meet the working capital needs of the subsidiary.
The total issue size of the IPO is 5,45,77,464 shares. Of the total, 50 percent is reserved for qualified institutional buyers, 15 percent for non-institutional investors and 35 percent for retail investors. Investors can bid on a minimum of 105 shares and in multiples thereof.
Yatra Online IPO GMP today
According to market observers, Valiant Laboratories’ gray market premium currently remains zero. It means that the gray market does not expect any listing profit from the public issue. Importantly, the GMP of unlisted shares is constantly changing based on market sentiment.
The ‘gray market premium’ indicates that investors are willing to pay more than the issue price.
About Valiant Laboratories
Valiant Laboratories is an active pharmaceutical ingredient or bulk drug company that focuses on the production of paracetamol, which is used in the treatment of headaches, muscle pain, arthritis, back pain, toothache, colds and fever.
The paracetamol API industry grew from Rs 2,200 crore in fiscal year 2017 to Rs 3,900 crore in fiscal year 2023 and going forward, the sector is expected to witness a CAGR (Compound Annual Growth Rate) between fiscal year 2023 and fiscal year 2027 Rate) of 5-7 percent, largely driven by demand from domestic formulation manufacturers and from exports.
Unistone Capital Pvt. is the sole lead manager of the issue. Shares of the company will be listed on the BSE and NSE.
(With inputs from PTI)