Valiant Laboratories Secures Rs 45.74 Crore from Anchor Investors Ahead of IPO

26 Sep 2023 , 09:48 PM

On September 26, a day before the commencement of its IPO, pharmaceutical manufacturer Valiant Laboratories secured Rs 45.74 crore in funding from four anchor investors.

In accordance with the company’s filing to the exchanges, the board of directors, in collaboration with the book-running lead managers, allocated a total of 32,66,970 equity shares to anchor investors at a price of Rs 140 per equity share. The largest investor among the four anchor investors is Leading Light Fund VCC – The Triumph Fund, which acquired 14.81 lakh shares valued at Rs 20.73 crore. Saint Capital Fund and Astorne Captal VCC – Arven collectively invested Rs 20 crore, with each entity purchasing 7.14 lakh shares. Negen Undiscovered Value Fund participated as the fourth investor, acquiring 3.57 lakh shares worth Rs 5 crore.

Valiant Laboratories, a pharmaceutical ingredient manufacturing company, is preparing to raise Rs 152.46 crore through an upcoming initial public offering scheduled to open on September 27. The price band for this IPO is set at Rs 133-140 per share.

It’s important to note that the IPO comprises solely a fresh issue component, meaning that the company will receive the entire issue proceeds, excluding IPO expenses, for its use.