Innova Captab IPO: Know GMP, how to check share allotment, listing date and all other details

Innova Captab IPO listing: The share allocation for Innova Captab IPO is likely to be completed today or tomorrow evening. Investors will receive their shares through a lottery system, closely supervised by the appointed registrar.
According to ET, on the allotment date, investors will get to know about the number of shares allocated to them based on their bids.To check the allotment status, simply visit either the BSE website or the registrar’s website and follow these easy steps.
How to check allotment status on BSE

Innova Captab GMP and listing date
Innova Captab shares are expected to be available for trading on December 29. According to market sources, there is a predicted premium of Rs 140 in the unlisted market for Innova Captab. With the upper price band set at Rs 449, the stock is likely to debut with a 31% premium. At this upper price band, the company’s valuation stands at 34 times its earnings for FY23.

Innova Captab IPO subscription

The Innova Captab IPO experienced strong demand, with a subscription rate of 55.26 times on the final day of bidding. Bids were made for 50,16,58,245 shares against the available 90,78,010 shares. The Qualified Institutional Buyer (QIB) portion was subscribed 116.73 times, the Non-Institutional Investor (NII) part 64.94 times, and the retail category 17.15 times.
Innova Captab IPO objective
The funds raised from the IPO will be used by the company for diverse purposes. This includes repaying outstanding loans, investing in the subsidiary UML to settle debts, supporting working capital needs, and addressing general corporate requirements.

About Innova Captab
Innova Captab is an all-encompassing pharmaceutical company in India, engaged in different facets of the pharmaceutical value chain such as research and development, manufacturing, drug distribution, marketing, and exports. For the fiscal year 2023, the company recorded a 16% year-on-year growth in operational revenue, amounting to Rs 926 crore, and a modest increase in after-tax profit to Rs 67.9 crore.
Innova Captab IPO BRLM
ICICI Securities and JM Financial are the designated book-running lead managers for Innova Captab’s IPO, and KFin Technologies serves as the registrar to the offer. Stay tuned for more updates on the thrilling developments in Innova Captab’s IPO journey.