Innova Captab IPO opens today, here's all you need to know

Innova Captab Limited's share sale via initial public offering opened for subscription on Thursday, December 21. The company plans to raise Rs 570 crore from the IPO which comprises of fresh issue and an offer for sale (OFS).

Innova Captab Ltd IPO: Check lot size, IPO price, issue size and more

Innova Captab plans to sell shares in the price band of Rs 426 to Rs 448 per share. A retail investor can bid for minimum one lot of 33 shares up to maximum of 13 lots. One lot of Innova Captab shares is priced at Rs 14,784 at the upper end of the price band.

The company’s Rs 570 crore IPO comprises of fresh issue of Rs 320 crore and an OFS worth Rs 250 crore.

A day ahead of the IPO, the pharma firm raised Rs 171 crore from anchor investors, allocating 3,816,963 shares at Rs 448 per share.

The company has reserved a 50 per cent shares for the qualified institutional buyers (QIBs), 15 per cent for non-institutional bidders (NIBs) and a minimum of 35 per cent for retail individual bidders.

Innova Captab IPO set to be listed on BSE and NSE tentatively on December 29 will close subscription on December 26.

The company established in 2005 is a branded generic pharmaceutical products manufacturer for the domestic and international markets, who's core strength has been its in-house research and development that aids in retaining contact development and manufacturing organisation (CDMO) customers.

ICICI Securities Limited and JM Financial Limited are the book running lead managers of the Innova Captab IPO, while Kfin Technologies Limited is the registrar to the issue.