The shares of Innova Captab IPO list on the stock market at a premium of 2% and rise later
Innova Captab Ltd.’s integrated pharmaceutical shares debuted on the market with little fanfare on Friday, listing on the BSE at a little premium of about 2% above the issue price of Rs 448. When the stock debuted on the BSE at Rs 456.10, it had gained 1.80% from the issue price. Afterward, it increased to Rs 521, up 16.29%.
It listed at Rs 452.10 on the NSE, up 0.91 percent. The company’s shares then increased 16.07 percent to Rs 520.
In the morning trading, the company’s market value was Rs 2,880.99 crore.
On the last day of bidding on Tuesday, Innova Captab’s Initial Public Offer (IPO) got subscriptions 55.26 times over.
New issuance of equity shares up to Rs 320 crore and an offer to sell up to 5,580,357 equity shares were part of the Rs 570-crore original share sale.
The offer’s price ranged from Rs 426-448 per share.
Across the whole pharmaceutical value chain, including R&D, manufacturing, distribution, marketing, and exports, Innova Capital is an integrated pharmaceutical corporation.
