Innova Captab was incorporated on January 3, 2005, as ‘Harun Health Care Private Limited'. It is an integrated pharmaceutical company in India with a presence across the pharmaceutical value chain, including research and development, manufacturing, drug distribution, marketing, and exports. The business includes (i) a contract development and manufacturing organization (CDMO) business providing manufacturing services to Indian pharmaceutical companies, (ii) a domestic branded generics business, and (iii) an international branded generics business.
| Bidding Dates |
|---|
| 21 Dec 2023 - 26 Dec 2023 |
| Subscription |
|---|
| 55.26x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,058 | 1 | 13 | 33 | 12.7 M | ₹426 - ₹448 | 48.75 % | ₹5420.1 M - ₹5700.0 M | RHP DOC |
Innova Captab IPO SUBSCRIPTION STATUS
26 Dec '23Innova Captab IPO overall subscription rate was 55.26 times the total available shares
Innova Captab IPO retail subscription rate was 17.15 times in the retail segment
Innova Captab IPO non-institutional investor subscription rate was 64.95 times in the non-institutional investor category
Innova Captab IPO Qualified Institutional Bidder subscription rate was 116.73 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
26 Dec 2023 (Day 3) | 17.15x | 64.95x | 116.73x |
22 Dec 2023 (Day 2) | 5.01x | 3.27x | 1.09x |
21 Dec 2023 (Day 1) | 2.12x | 0.96x | 0.44x |
Innova Captab FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| Q1FY24 | 175.9 | 2,332.4 | 473.9 | 176.8 | 13.9% |
| FY23 | 679.5 | 9,263.8 | 671.2 | -111.3 | 13.3% |
| FY22 | 639.5 | 8,005.3 | 589.0 | -209.0 | 12.4% |
| FY21 | 345.0 | 4,106.6 | 415.7 | 231.2 | 13.6% |
Innova Captab IPO SUBSCRIPTION STATUS DETAILS
Innova Captab had 12.7 M shares on offer
Innova Captab IPO offer price was in the range ₹426 - ₹448
Innova Captab IPO minimum Investment was ₹14058
Innova Captab IPO issue size was ₹ 5420.1 M - ₹ 5700.0 M
Innova Captab had a minimum lot size of 33 Shares per application
Innova Captab NUMBER OF SHARES ON OFFER
Innova Captab IPO IMPORTANT DATES
| Issue Open Date | 21 Dec 2023 |
| Issue close Date | 26 Dec 2023 |
| Allotment Date | 27 Dec 2023 |
| Refund Date | 28 Dec 2023 |
| Demat Account Credit Date | 28 Dec 2023 |
| Listing Date | 29 Dec 2023 |
| Listing on Exchange(s) | NSE and BSE |
| Innova Captab Allotment Status | Exchange |
Innova Captab IPO subscription opened on 21 Dec 2023, and closed on 26 Dec 2023
IPO allotment for Innova Captab was finalized on Wednesday, 27 Dec 2023
IPO listing for Innova Captab was on NSE and BSE on Friday, 29 Dec 2023
Innova Captab IPO LISTING GAINS
| Issue Price (adjusted) | 448.0 |
| Listing Open Price | 452.1 |
| Listing Close Price | 541.4 |
| Listing Gain% | 0.9% |
| Current Gain% | 110.8% |
Innova Captab Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Innova Captab Ltd. | 944.5 | 5404.9 | 38.4 | 3.9 | 3.3 | 12.9 | 7.7 | 1637.4 | 30.4 | 140.9 | 9.9 | 24.6 | 9.9 |
| Sun Pharmaceutical Industries Ltd. | 1945 | 466670.7 | 38.6 | 2.3 | 7.8 | 13.7 | 10.6 | 60433.8 | 10.8 | 11479.4 | 5 | 50.4 | 16.6 |
| Divi's Laboratories Ltd. | 8275 | 219675.3 | 75.1 | 2.8 | 19.6 | 15.3 | 12.8 | 11067 | 14 | 2568 | 17.2 | 110.2 | 26.8 |
| Torrent Pharmaceuticals Ltd. | 4924 | 187293.2 | 85.9 | 9.6 | 11.9 | 25.8 | 4.9 | 13886.2 | 20.3 | 2163.4 | 13.2 | 57.3 | 8.9 |
| Cipla Ltd. | 1463.8 | 118253.6 | 35.1 | -0.9 | 4.2 | 11.3 | 9.1 | 29044.6 | 2.2 | 3879.2 | -26.4 | 41.7 | -37.5 |
| Zydus Lifesciences Ltd. | 1114.2 | 112114.6 | 22.2 | 2.3 | 4.1 | 18.6 | 9.6 | 27657.9 | 17.6 | 5040 | 11.4 | 50.1 | 9.6 |
Innova Captab INFORMATION ON IPO ISSUE
About Innova Captab
Innova Captab was incorporated on January 3, 2005, as ‘Harun Health Care Private Limited'. It is an integrated pharmaceutical company in India with a presence across the pharmaceutical value chain, including research and development, manufacturing, drug distribution, marketing, and exports. The business includes (i) a contract development and manufacturing organization (CDMO) business providing manufacturing services to Indian pharmaceutical companies, (ii) a domestic branded generics business, and (iii) an international branded generics business.
Object of the Issue
- Repayment and/or prepayment in part or in full, of certain outstanding loans
- Investment in a subsidiary, UML, for repayment and/or prepayment in part or full of outstanding loans availed by UML
- Funding working capital requirements
- General corporate purposes
Innova Captab - PROMOTERS
| Name |
|---|
| Manoj Kumar Lohariwala |
| Vinay Kumar Lohariwala |
Innova Captab Book Running Lead Manager
ICICI Securities Limited
innova.ipo@icicisecurities.com
JM Financial Limited
innova.ipo@jmfl.com
Innova Captab Registrar to the Offer
KFinTechnologies Private Limited
innovacaptab.ipo@kfintech.com
Innova Captab Strengths
Leading presence
The company is one of the fastest-growing CDMOs in the Indian pharmaceutical formulations market. The Indian CDMO space has seen traction in recent times, with big pharmaceutical companies preferring to outsource R&D as well as manufacturing activities. The company is well-positioned to benefit from the growth in the CDMO market
Rapidly growing branded generics businesses
The branded generics business consists of the development, manufacture, and distribution of generic formulation products, which are marketed and distributed in India. The company's domestic and international export branded generics businesses have been growing rapidly
Innova Captab Risks
Highly competitive market
Competition in the CDMO services and products includes full-service pharmaceutical outsourcing or CDMO companies, contract manufacturers focusing on a limited number of dosage forms, contract manufacturers providing multiple dosage forms, and large pharmaceutical companies offering third-party manufacturing services to fill their excess capacity
Dependent on manufacturing facilities
Business is dependent and will continue to depend on the manufacturing facilities, and it is subject to certain risks in the manufacturing process such as the breakdown or failure of equipment, industrial accidents, severe weather conditions, and natural disasters
IPO FAQs
This IPO consists of an offer for sale of up to Rs 250.0 crore, of 5,580,357 shares. It also consists of a fresh issue of Rs 320.0 crore.
The promoters of the company are Manoj Kumar Lohariwala and Vinay Kumar Lohariwala.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 426.0 - 448.0.
The IPO application opens on Dec 21, 2023 and closes on Dec 26, 2023.
The minimum lot size for the IPO is 33. The maximum lot size for the IPO is 429.
For all category investors, the minimum application amount for this IPO is Rs. 14,058.0, the maximum value for this IPO is Rs 192,192.0.
This IPO will be allotted on Dec 27, 2023.
The refund will be credited to your account on Dec 28, 2023.
The allotted shares will be credited to your demat on Dec 28, 2023.
Innova Captab Ltd.’s shares listed on the stock exchanges on Dec 29, 2023.