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Dec 21, 2023 08:02 PM IST
Innova Captab IPO was fully subscribed on the first day of the issue, with the bidding for the issue set to go on till December 26.
Pharmaceutical company Innova Captab had a stellar day on the market, with their issue being fully subscribed on the first day of the IPO launch. The initial public offering (IPO), launched on December 21, was subscribed 1.47 times when the markets closed today.
Innova Captab IPO was subscribed fully on the first day of the issue. The IPO date for Innova Captab is December 21 to December 26, with the issue fully subscribed on Day 1. However, the first day was slow for Innova Captab as compared to the market trends for recent IPOs.
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Innova Captab IPO was launched after the firm mobilized ₹171 crore from anchor investors on December 20, s day before the launch of the issue.
Backers such as Morgan Stanley, Copthall Mauritius Investment, ICICI Prudential Mutual Fund, Kotak Mahindra Trustee, Ashoka Whiteoak Emerging Markets Trust, SBI Life Insurance Company, Bandhan Mutual Fund, Canara Robeco Mutual Fund, Aditya Birla Sun Life Insurance Company, Invesco India, and Integrated Core Strategies ended up investing through the anchor book.
Innova Captab IPO Day 1: GMP, issue details and highlights
Innova Captab, a Himachal Pradesh-based pharma company, launched its IPO on December 20, and was subscribed 1.47 times on Day 1. The issue is set to remain open till December 26, Tuesday.
Innova Captab IPO price band has been set in the range of ₹426 to ₹448 per equity share of face value of ₹10. The category for Retail individual investors (RII) was subscribed 2.12 times while the category for non institutional investors was subscribed 96 percent on Day 1.
According to BSE data, Innova Captab IPO has received bids for 1,27,60,473 shares against 90,78,010 shares on offer. Through its IPO, Innova Captab has launched a fresh issuance of equity shares up to ₹320 crore and an offer-for-sale (OFS) of up to 55,80,357 equity shares.
Meanwhile, the grey market issue of Innova Captab remained at ₹100 on the first day of the issue. However, it must be noted that the GMP must not be an indicator of the performance of the IPO and its potential returns.
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