Innova Captab IPO: Check allotment status, link and listing date here

27 Dec 2023 , 11:45 AM

The share allotment for the Innova Captab IPO is anticipated to be concluded later in the evening today or by tomorrow. The IPO witnessed robust demand, with a subscription rate of 55.26 times on the last day of bidding.

Investors can check the allotment status of the IPO on BSE website or on website of Innova Captab registrar KFin Technologies Limited.

Key Subscription Details:

• The IPO received bids for 50,16,58,245 shares against the offered 90,78,010 shares.
• Qualified Institutional Buyers (QIB) portion was oversubscribed by an impressive 116.73 times.
• Non-Institutional Investors (NII) category witnessed a subscription rate of 64.94 times.
• The retail category experienced strong demand, being subscribed 17.15 times.

Utilization of Net Proceeds: The company intends to utilize the net proceeds from the IPO for various purposes, including:

• Repayment of certain outstanding loans.
• Investment in subsidiary UML for debt repayment.
• Funding working capital requirements.
• General corporate purposes.

Innova Captab is an integrated pharmaceutical company in India, engaged in diverse aspects of the pharmaceutical value chain. This includes research and development, manufacturing, drug distribution, marketing, and exports.

Key Players in IPO Process: ICICI Securities and JM Financial serve as the book-running lead managers for the IPO, while KFin Technologies is the registrar to the offer.