Mumbai-based pharmaceutical firm Valiant Laboratories has announced its pricing strategy for the impending initial public offering (IPO), setting it at Rs 133-140 per share, with the IPO subscription period commencing on September 27.
The company’s ambitious IPO aims to generate Rs 152.46 crore at the upper end of the price band. This offering exclusively comprises a fresh issue of 1.09 crore equity shares by Valiant Laboratories, without any offer-for-sale component.
Investors can partake by bidding for a minimum of 105 equity shares, with subsequent bids in multiples of 105 shares. Retail investors should note that the minimum application size is Rs 14,700 (equivalent to 105 shares), and their maximum investment is capped at Rs 1,91,100 (for 1,365 shares), adhering to the IPO’s investment limit of Rs 2 lakh for this category.
High net worth individuals, operating within an investment bracket of Rs 2 lakh to Rs 10 lakh, can participate by investing a minimum of Rs 2,05,800 (equivalent to 1,470 shares) and a maximum of Rs 9,99,600 (for 7,140 shares) at the upper end of the price band.
Valiant Laboratories plans to open the anchor book of its public offering for a single day on September 26, with the IPO closing on October 3.
The company intends to utilize the net fresh issue proceeds to fund the establishment of a manufacturing facility specializing in specialty chemicals (ketene and diketene derivative products) located in Bharuch, Gujarat, owned by its subsidiary, Valiant Advanced Sciences. The remaining funds from the fresh issue will be directed towards working capital requirements and general corporate purposes.
Valiant Laboratories, with a primary focus on Paracetamol, is a Mumbai-based active pharmaceutical ingredient (API) and bulk drug manufacturing enterprise. Promoters, including Dhanvallabh Ventures LLP, which holds a 62.5 percent stake, and Promoters Shantilal Shivji Vora and Santosh Shantilal Vora, each owning a 10.01 percent stake, play a key role in the company.
Valiant Organics, listed on the BSE and NSE, holds a 73.15 percent stake in Dhanvallabh Ventures LLP and is its promoter.
This offering marks the culmination of a series of 13 public issues this month, including companies such as Manoj Vaibhav Gems N Jewellers, Sai Silks (Kalamandir), Signature Global, Yatra Online, Zaggle Prepaid Ocean Services, SAMHI Hotels, RR Kabel, EMS, Jupiter Life Line Hospitals, and Ratnaveer Precision Engineering.