Valiant Lab IPO subscribed 29.76 times on day 3 of subscription
Valiant Laboratories IPO: The IPO, which is entirely a fresh issue, will close on October 3. The total number of shares offered by the company is 10,890,000 (including the anchor allocation of 32,66,970 equity shares).
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Valiant Laboratories IPO: Valiant Laboratories launched its initial public offering (IPO) on Wednesday, September 27, to raise up to Rs 152.46 crore. The IPO, which is entirely a fresh issue, will close on October 3. The total number of shares offered by the company is 10,890,000 (including the anchor allocation of 32,66,970 equity shares).
Valiant Laboratories IPO subscription status
On the final day of the bidding process, the IPO received bids for 22,68,46,830 shares against 76,23,030 shares put on offer, marking an overall subscription of 29.76 times, according to provisional exchange data.
| Category | Subscription (No. of times the equity reserved) |
| Qualified institutional buyers | 20.83 |
| Non-institutional investors | 73.64 |
| Retail investors | 16.06 |
| Overall | 29.76 |
| Source: Exchange data | |
Here’s all you need to know about the Valiant Laboratories IPO:
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Valiant Labs IPO allotment date, Valiant Labs IPO listing date
The basis of the allotment of shares post-IPO is set to be finalised on October 5. Successful bidders will receive Valiant Laboratories shares in their demat accounts on October 6, while unsuccessful bidders will get the refund the same day. Valiant Laboratories stock is likely to debut on the NSE and BSE on October 9.
Issue price and lot size
The company has fixed a price range of Rs 133–Rs 140 apiece for the IPO.
Potential investors can bid for the Valiant Laboratories IPO stock, under the IPO, in multiples of 105 shares, translating to Rs 13,965–Rs 21,000 per lot.
Fund utilisation
The company aims to utilise the proceeds from the fresh issuance towards investment in its wholly-owned subsidiary, Valiant Advanced Sciences Private Limited (VASPL) for part-financing its capital expenditure requirements in relation to the setting up of a manufacturing facility for specialty chemicals at Saykha Industrial Area, Bharuch, Bharuch, Gujarat (Proposed Facility); investment in VASPL for funding its working capital requirements; and general corporate purposes.
Unistone Capital Private Limited is the book-running lead manager for the issue, whereas Link Intime India Private is the official registrar.
What does the company do?
Incorporated in 1980, Valiant Laboratories is a pharmaceutical ingredient manufacturing company with a focus on manufacturing Paracetamol.
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