Valiant Laboratories IPO day 2: Check live subscription details here

28 Sep 2023 , 12:52 PM

The initial public offering of pharmaceutical company Valiant Laboratories opened for subscription on September 27, and on the first day, the issue garnered bids for 24.81 lakh equity shares against an IPO size of 76.23 lakh shares, resulting in a 33% subscription rate.

By 12.45 PM on the second day, retail investors took the lead in supporting the issue, subscribing to 96% of the shares reserved for them. High-net-worth individuals bid for 18% of the shares allocated to them, while the portion set aside for qualified institutional buyers remained unsubscribed.

Anchor investors showed significant interest in the company, investing Rs 45.74 crore in shares at the upper price band. The offer is priced at a band of Rs 133-140 per share and will close on October 3.

Valiant Laboratories, established in 1980 with a focus on Paracetamol manufacturing, aims to raise Rs 152.46 crore through the IPO, which consists solely of a fresh issue component.