19-Dec-2023
2 mins read
The Innova Captab IPO, valued at Rs 570 crore, is a book-built issue. It includes a fresh issue worth Rs 320 crore and an offer for sale of 0.56 crore shares. This IPO will be open for subscriptions from December 21, 2023, to December 26, 2023. The allocation of shares is anticipated to be completed by December 27, 2023, with a provisional listing date on the BSE and NSE set for December 29, 2023.
The price range for the Innova Captab IPO is Rs 426 to Rs 448 per share. Investors need to purchase a minimum of 33 shares, equating to a minimum investment of Rs 14,784 for retail investors. The minimum investment for sNII (small non-institutional investors) is 14 lots, or 462 shares, totalling Rs 206,976. For bNII (big non-institutional investors), it’s 68 lots, or 2,244 shares, amounting to Rs 1,005,312.
ICICI Securities Limited and JM Financial Limited manage the IPO as book-running lead managers. Kfin Technologies Limited has been appointed as the registrar for the offering.
Innova Captab Limited Portfolio
Established in January 2005, Innova Captab Limited is a pharmaceutical firm engaging in three key business areas. Firstly, it offers contract development and manufacturing services to various Indian pharmaceutical companies. Additionally, Innova Captab is involved in the domestic market through its branded generics segment and operates internationally in the same domain.
The company boasts a diverse product range, including tablets, capsules, dry syrups, dry powder injections, ointments, and liquid medicines. In the fiscal year of 2023 and the first three months leading up to June 30, 2023, Innova Captab produced and marketed over 600 types of generic drugs. These products, under the company’s brand, reached the Indian market through a network of around 5,000 distributors and stockists and were available in over 150,000 retail pharmacies. Moreover, the company expanded its reach by exporting branded generics to 20 countries in FY2023 and to 16 countries in the quarter ending June 30, 2023.
As of October 31, 2023, Innova Captab’s R&D laboratory employed 29 scientists and engineers. The manufacturing operations are based in Buddi, Haryana.
The company’s clientele includes prominent names such as Cipla, Glenmark Pharmaceuticals, Wockhardt, Corona Remedies, Emcure Pharmaceuticals, Lupin, Medley Pharmaceuticals, Eris Healthcare, Zuventus Healthcare, Ajanta Pharma, Mankind Pharma, among others.
As of the same date, Innova Captab maintained 200 active product registrations with international authorities, with an additional 20 awaiting renewal. There are also 218 new registration applications currently under process with international regulatory bodies.
The Objectives of Innova Captab Limited IPO
Innova Captab Limited intends to allocate the net proceeds from its recent issuance for several key objectives. These include partially or completely clearing existing company loans. Furthermore, part of the capital raised will be channeled into its subsidiary, UML, to help in either partially or completely settling UML’s existing loans. Innova Captab Limited also intends to allocate a portion of these funds to enhance its working capital requirements. Finally, a certain amount will be earmarked for a range of general corporate purposes.
Financial Performance of Innova Captab Limited (In Crore)
Between the financial years concluding on March 31, 2022, and March 31, 2023, Innova Captab Limited experienced a notable growth in its financial performance. The company’s revenue saw an uplift of 16.45%, while its profit after tax (PAT) also improved, registering a 6.26% increase.
| Period Ended | 30-Jun-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 1,086.16 | 704.41 | 575.48 | 369.62 |
| Revenue | 234.37 | 935.58 | 803.41 | 412.03 |
| Profit After Tax | 17.59 | 67.95 | 63.95 | 34.5 |
| Net Worth | 294.27 | 276.46 | 208.56 | 144.78 |
| Reserves and Surplus | 317.51 | 228.51 | 196.61 | 132.82 |
| Total Borrowing | 441.9 | 235.19 | 198.18 | 45.03 |
Important Details of Innova Captab Limited IPO
| IPO Date | December 21, 2023 to December 26, 2023 |
| Listing Date | Yet to be announced |
| Face Value | Rs 10 per share |
| Price Band | Rs 426 to Rs 448 per share |
| Lot Size | 33 Shares |
| Total Issue Size | Aggregating up to Rs 570.00 Cr |
| Fresh Issue | Aggregating up to Rs 320.00 Cr |
| Offer for Sale | 5,580,357 shares of Rs 10 (Aggregating up to Rs 250.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Shareholding pre issue | 50,082,072 |
Innova Captab IPO Timetable (Tentative Schedule)
The opening date of Innova Captab IPO is December 21, 2023, and closing date is December 26, 2023.
| IPO Open Date | Thursday, December 21, 2023 |
| IPO Close Date | Tuesday, December 26, 2023 |
| Basis of Allotment | Wednesday, December 27, 2023 |
| Initiation of Refunds | Thursday, December 28, 2023 |
| Credit of Shares to Demat | Thursday, December 28, 2023 |
| Listing Date | Friday, December 29, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 26, 2023 |
IPO Reservation of Innova Captab Ltd
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Innova Captab IPO Lot Size
Investors have the option to apply for a minimum of 33 shares and can increase their bid in multiples of this number. The following table illustrates the smallest and largest possible investments for retail investors and high-net-worth individuals (HNIs), detailing the number of shares and the corresponding monetary values.
| Application | Lots | Shares | Amount (In Rs) |
| Retail (Min) | 1 | 33 | 14,784 |
| Retail (Max) | 13 | 429 | 192,192 |
| S-HNI (Min) | 14 | 462 | 206,976 |
| S-HNI (Max) | 67 | 2,211 | 990,528 |
| B-HNI (Min) | 68 | 2,244 | 1,005,312 |
Key Performance Indicator
Innova Captab IPO Market Cap is Rs 2563.7 Cr and P/E (x) is 31.64.
| KPI | Values |
| P/E (x) | 31.64 |
| Market Cap (Rs Cr) | 2563.7 |
| ROE | 24.58% |
| ROCE | 22.61% |
| Debt/Equity | 0.85 |
| EPS (Rs) | 14.16 |
| RoNW | 24.58% |
Innova Captab Limited IPO Lead Manager(s)
The lead managers of Innova Captab Limited IPO are ICICI Securities Limited and Jm Financial Limited.
Promoters of the Company
Manoj Kumar Lohariwala and Vinay Kumar Lohariwala are the company promoters.
Innova Captab IPO Promoter Holding
| Shareholding Pre-Issue | 66.85% |
| Shareholding Post Issue |
How to Apply for Innova Captab Limited IPO
Wait for the public issue to open for subscription, then click on this link to apply for the Innova Captab Limited IPO with Bigul https://ipo.bonanzaonline.com/.
How to Check the Allotment Status of Innova Captab Limited IPO
The registrar for Innova Captab Limited IPO is Kfin Technologies Limited. To check your allotment status, please click on this link: https://kosmic.kfintech.com/ipostatus/
FAQs
- When is the Innova Captab Limited IPO opening for subscription?
The IPO is set to open on December 21, 2023, and will close on December 26, 2023.
- What is the price band for the Innova Captab IPO?
The price band is set between Rs 426 to Rs 448 per share.
- What is the minimum lot size for investing in the Innova Captab IPO?
The minimum lot size is 33 shares.
- What are the objectives of the Innova Captab Limited IPO?
The primary objectives include loan repayment, investment in subsidiary UML for its loan repayment, funding working capital needs, and general corporate purposes.
- Who are the lead managers for the Innova Captab IPO?
ICICI Securities Limited and JM Financial Limited are the lead managers.
- What is the listing date for the Innova Captab IPO?
The tentative listing date is set for December 29, 2023, on the BSE and NSE.
- How can I apply for the Innova Captab Limited IPO?
You can apply for the IPO through this link when the issue opens: Innova Captab Limited IPO Application.
- How can I check the allotment status of the Innova Captab Limited IPO?
The allotment status can be checked on Kfin Technologies Limited’s website here: Innova Captab IPO Allotment Status.
- What are the key performance indicators for Innova Captab IPO?
The Market Cap is Rs 2563.7 Cr, the P/E ratio is 31.64, ROE is 24.58%, ROCE is 22.61%, Debt/Equity is 0.85, and EPS is Rs 14.16.