The shares of the pharmaceutical company Innova Captab Limited listed flat on its debut today on the stock markets. The company’s shares listed at Rs 452 apiece on the National Stock Exchange (NSE) today, a mild +0.92% premium over the IPO price of Rs 448. After a strong performance by mainline issues in November and first half-half of December, most of the recent issues have made mixed debuts. Innova Captab is the last mainboard initial public offering of 2023.
After a flat listing, the share price of the company had surged over 15% to about Rs 520 apiece at 10:45 am today, as per the NSE website.
The Innova Captab IPO was subscribed a total of 55.26 times when the issue was open for subscription between December 21 to December 26, 2023. The public issue was subscribed 17.15 in the retail category, 64.95 times in the NII category and 116.73 times in the QIB category. The company has raised Rs 570 crore through the public issue which it plans to utilise towards repayment of loans, funding its expansion plans and for working capital and general corporate expenses requirements.
The company is a generic integrated pharmaceutical products manufacturer for the domestic and international markets, and has posted a revenue of Rs 935.58 crore in FY23 over 803.41 crore in FY22 and a Profit After Tax of Rs 67.95 crore in FY23 over Rs 63.95 crore in FY22. The revenue and PAT grew by 16.45% and 6.25% respectively in FY23 from the previous financial year.
Along with Innova Captab, three public issues also debuted on the small and medium enterprises segment of the markets. Of them, Trident Techlabs debuted at Rs 98.15 per share, a 180.43% premium over the IPO price of Rs 35, Supreme Power Equipment Limited landed at Rs 98 per share, a 50.77% gain over the IPO price of Rs 65 and Indifra Limited debuted at Rs 72 per share over Rs 65 IPO price, a 10.77% premium.
