Valiant Laboratories IPO Lists at 16% Premium on NSE at Rs 162.15 apiece

6 Oct 2023 , 09:53 AM

Valiant Laboratories, a pharmaceutical firm, made a strong market debut as its Initial Public Offering (IPO) shares were listed at a significant premium. Valiant Laboratories’ IPO shares were listed at a premium of 16% on the NSE (National Stock Exchange) at Rs 162.15 per share, surpassing the issue price of Rs 140. On the BSE (Bombay Stock Exchange), the shares were listed at Rs 161, representing a 15% premium.

The Valiant Laboratories IPO witnessed robust demand from investors, with a subscription rate of 29.76 times. Investors collectively purchased 22.68 crore shares against the offer size of 76.23 lakh shares. High Net Worth Individuals (HNIs) exhibited strong interest, oversubscribing their quota by an impressive 73.64 times, while retail investors subscribed 16.06 times their allotted shares. The portion reserved for Qualified Institutional Buyers (QIBs) saw a subscription rate of 20.83 times, reinforcing institutional interest. Notably, 50% of the IPO was reserved for QIBs.

The IPO, valued at Rs 152 crore, had opened on September 27 and concluded on October 3. It exclusively comprised a fresh issue of shares, with a price band set at Rs 133-140 per share. Prior to the IPO, Valiant Laboratories raised Rs 45.74 crore from anchor investors. Leading investors such as Light Fund VCC – The Triumph Fund, Saint Capital Fund, Astorne Capital VCC – Arven, and Negen Undiscovered Value Fund participated in the anchor book.