Valiant Laboratories was incorporated on October 17, 1980. It is an Active Pharmaceutical Ingredient/bulk drug manufacturing company having focus on manufacturing of Paracetamol.
| Bidding Dates |
|---|
| 27 Sep 2023 - 03 Oct 2023 |
| Subscription |
|---|
| 29.76x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,700 | 1 | 13 | 105 | 10.9 M | ₹133 - ₹140 | 74.94 % | ₹1448.4 M - ₹1524.6 M | RHP DOC |
Valiant Laboratories IPO SUBSCRIPTION STATUS
03 Oct '23Valiant Laboratories IPO overall subscription rate was 29.76 times the total available shares
Valiant Laboratories IPO retail subscription rate was 16.06 times in the retail segment
Valiant Laboratories IPO non-institutional investor subscription rate was 73.64 times in the non-institutional investor category
Valiant Laboratories IPO Qualified Institutional Bidder subscription rate was 20.83 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
03 Oct 2023 (Day 4) | 16.06x | 73.64x | 20.83x |
29 Sep 2023 (Day 3) | 3.12x | 1.51x | 1.04x |
28 Sep 2023 (Day 2) | 1.28x | 0.29x | 0.05x |
27 Sep 2023 (Day 1) | 0.61x | 0.1x | 0x |
Valiant Laboratories 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 |
| FY23 | 290.3 | 3,339.1 | 229.6 | 158.9 | 10.5% |
| FY22 | 273.5 | 2,915.2 | 22.5 | -45.9 | 14.5% |
| FY21 | 305.9 | 1,823.7 | 91.1 | 74.4 | 27.4% |
Valiant Laboratories IPO SUBSCRIPTION STATUS DETAILS
Valiant Laboratories had 10.9 M shares on offer
Valiant Laboratories IPO offer price was in the range ₹133 - ₹140
Valiant Laboratories IPO minimum Investment was ₹14700
Valiant Laboratories IPO issue size was ₹ 1448.4 M - ₹ 1524.6 M
Valiant Laboratories had a minimum lot size of 105 Shares per application
Valiant Laboratories NUMBER OF SHARES ON OFFER
Valiant Laboratories IPO IMPORTANT DATES
| Issue Open Date | 27 Sep 2023 |
| Issue close Date | 03 Oct 2023 |
| Allotment Date | 04 Oct 2023 |
| Refund Date | 05 Oct 2023 |
| Demat Account Credit Date | 06 Oct 2023 |
| Listing Date | 06 Oct 2023 |
| Listing on Exchange(s) | NSE and BSE |
| Valiant Laboratories Allotment Status | Exchange |
Valiant Laboratories IPO subscription opened on 27 Sep 2023, and closed on 03 Oct 2023
IPO allotment for Valiant Laboratories was finalized on Wednesday, 04 Oct 2023
IPO listing for Valiant Laboratories was on NSE and BSE on Friday, 06 Oct 2023
Valiant Laboratories IPO LISTING GAINS
| Issue Price (adjusted) | 140.0 |
| Listing Open Price | 162.2 |
| Listing Close Price | 170.3 |
| Listing Gain% | 15.8% |
| Current Gain% | -53.9% |
Valiant Laboratories 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Valiant Laboratories Ltd. | 64.6 | 280.6 | -107.1 | 2.2 | 1.5 | -1 | -0.7 | 239.8 | 72.7 | -3.3 | -48.5 | -0.6 | -48.8 |
| 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 |
Valiant Laboratories IPO Reports
Valiant Laboratories INFORMATION ON IPO ISSUE
About Valiant Laboratories
Valiant Laboratories was incorporated on October 17, 1980. It is an Active Pharmaceutical Ingredient/bulk drug manufacturing company having focus on manufacturing of Paracetamol.
Object of the Issue
- Investment in its wholly-owned subsidiary, Valiant Advanced Sciences, for part-financing its capital expenditure requirements in relation to the setting up of a manufacturing facility for specialty chemicals at Saykha Industrial Area, Bharuch, Gujarat
- Investment in Valiant Advanced Sciences for funding its working capital requirements
- General corporate purposes
Valiant Laboratories - PROMOTERS
| Name |
|---|
| Shantilal Shivji Vora |
| Dhanvallabh Ventures LLP |
Valiant Laboratories Book Running Lead Manager
Unistone Capital Private Limited
mb@unistonecapital.com
Valiant Laboratories Registrar to the Offer
Link Intime India Private Limited
valiantlaboratories.ipo@linkintime.co.in
Valiant Laboratories Strengths
Strong financial performance
The company maintains a strong financial position with an emphasis on having a strong balance sheet and increased profitability. For FY23, its revenue from operations was Rs 3,33.9 million, which grew at a CAGR of 23.9% from FY17 to FY23. For FY23, its profit was Rs 289.9 million, which grew at a CAGR of 26.8% from FY17 to FY23
Reducing dependence on import of raw materials
The company imports Para Amino Phenol, which is the raw material for the manufacture of Paracetamol. Its percentage of imports to total purchases has fallen to 11.9% in FY23 from 74.9% in FY21
Experienced promoters
Shantilal Shivji Vora, Promoter and Non-Executive Director of the company, has rich experience of over 45 years in the chemical and pharmaceutical industry
Valiant Laboratories Risks
Single product manufacturer
The company is a single-product manufacturer, and any changes to the paracetamol API industry or the product demand will adversely affect the revenues, financials, and profitability
Dependent on few customers
The company is dependent on a few customers for a major part of its revenues. Further, it does not enter into long-term arrangements with these customers, and any failure to continue the arrangements could adversely affect the business
Intense competition
The pharmaceutical industry is intensely competitive, and the company's inability to compete effectively may adversely affect the business
IPO FAQs
The promoters of the company are Shantilal Shivji Vora and Dhanvallabh Ventures LLP.
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 133.0 - 140.0.
The IPO application opens on Sep 27, 2023 and closes on Oct 03, 2023.
The minimum lot size for the IPO is 105. The maximum lot size for the IPO is 1365.
For all category investors, the minimum application amount for this IPO is Rs. 14,700.0, the maximum value for this IPO is Rs 191,100.0.
This IPO will be allotted on Oct 04, 2023.
The refund will be credited to your account on Oct 05, 2023.
The allotted shares will be credited to your demat on Oct 06, 2023.
Valiant Laboratories Ltd.’s shares listed on the stock exchanges on Oct 06, 2023.