Foreign and Domestic Institutions, who participated in the anchor, include ICICI Prudential MF, Kotak Mahindra MF, Ashoka Whiteoak MF, SBI Life Insurance, 360 One MF, Bandhan MF, Canara Robeco MF, Aditya Birla Sun Life Insurance, Edelweiss MF, ITPL-Invesco MF
FinTech BizNews Service
Mumbai, December 21, 2023: Innova Captab Limited, is an integrated pharmaceutical company in India with a presence across the pharmaceuticals value chain including research & development, manufacturing, drug distribution and marketing and exports, has garnered Rs. 171 crores from anchor investors ahead of its initial public offering that opens for public subscription on Thursday, December 21, 2023. The company informed the bourses that it allocated 3,816,963 equity shares at Rs. 448 per share on Wednesday, December 20, 2023, to anchor investors.
Foreign and Domestic Institutions who participated in the anchor were ICICI Prudential MF, Kotak Mahindra MF, Ashoka Whiteoak MF, SBI Life Insurance, 360 One MF, Bandhan MF, Canara Robeco MF, Aditya Birla Sun Life Insurance, Edelweiss MF, ITPL-Invesco MF, & others.
Out of the total allocation of 3,816,963 equity shares to the anchor investors, 1,713,030 equity shares were allocated to 6 domestic mutual funds through a total of 8 schemes amounting to Rs.
76.74 crore (approx.) i.e. 44.88% of the Total Anchor Book Size.
ICICI Securities Limited, and JM Financial Limited are the book running lead managers and KFin Technologies Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.
IPO Details
The Offer of face value of ?10 per equity share consists of a fresh issue of equity shares worth up to Rs 320 crore and an offer-for-sale (OFS) up to 55,80,357 equity shares by Promoter and selling shareholders
The Company is proposing to open its initial public offering of Equity Shares (the “Offer”) on Thursday, December 21, 2023, and closes on Tuesday, December 26, 2023. The price band for the Offer has been determined at Rs 426 – Rs 448 per equity share.
The IPO will fetch Rs 570 crore at the upper end of the price band.
Investors can bid for a minimum of 33 equity shares and in multiples of 33 equity shares thereafter.
The Offer is being made through the Book Building Process, wherein not more than 50% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers, not less than 15% of the Offer shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders.
