Last day to subscribe Valiant Laboratories IPO

3 Oct 2023 , 11:28 AM

Valiant Laboratories, the pharmaceutical ingredient manufacturing company, witnessed a subscription of 71% as of September 28, the second day of the IPO bidding. Investors purchased 54.35 lakh equity shares against an IPO size of 76.23 lakh shares. On the third day of bidding, by 11:30 AM, the issue was oversubscribed 5.25 times. Click here to subscribe the IPO

Retail investors led the way, subscribing 5.78 times their allocated portion, which represents 35% of the total issue size. High net-worth individuals followed closely, securing 9.61 times their reserved portion, equivalent to 15% of the IPO size. Qualified institutional buyers (QIBs) also began placing bids on the third day, subscribing to 1.05 times their quota, which accounts for 50% of the offer size.

Valiant Laboratories aims to raise Rs 152.46 crore from the IPO, which consists solely of a fresh issue of 1.09 crore equity shares. An amount of Rs 45.74 crore was already raised from the anchor book, a portion allocated to QIBs, at the upper price band on September 26. Investors in the anchor book included Leading Light Fund VCC – The Triumph Fund, Saint Capital Fund, Astorne Captal VCC – Arven, and Negen Undiscovered Value Fund.

The price band for the IPO is set at Rs 133-140 per share.