MUMBAI, Dec 29 (The CONNECT) – Shares of Innova Captab closed at a 21% premium on debut despite a weak market.
The shares were listed at ₹452.10, a premium of 0.92% on the National Stock Exchange (NSE), against its issue price of ₹448. The stock opened 1.81% higher at ₹456.10 on BSE. Post listing, Innova Captab shares gained as much as 21.09% to hit a high of ₹542.50 on the NSE, while it touched a high of ₹547.30 on the BSE. The company’s share price closed at Rs 545.15 per share on the BSE, a 21.69% premium, and at Rs 542.50 per share on the NSE, a 21.09% premium.
As per NSE, the total quantity traded stood at 154.96 lakh shares, on BSE the total Quantity stood at29.37 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 937.58 crore.
Vinay Kumar Lohariwala, MD – Innova Captab Limited, (Right in the picture) thanked all each shareholders and investors who has been an integral part of the company’s success story.
The Market Capitalization of the Company at today’s closing price stood at Rs. 3,119.62 Crore as per BSE and Rs. 3,104.45 Crore as per NSE.
The company had offered Rs 570-crore issue for subscription from December 21 to December 26. This garnered substantial interest, and the offer was subscribed 55.26 times. Qualified Institutional Buyer and Non-Institutional Investors Portion was subscribed 116.73 times and 64.95 times respectively, and Retail Portion subscribed 17.15 times. The issue was a fresh equity of Rs 320 crore and an offer-for-sale (OFS) up to 55,80,357 equity shares by Promoter and selling shareholders.
Innova Captab is an integrated pharmaceutical company in India with a presence across the pharmaceuticals value chain including research and development, manufacturing, drug distribution and marketing and exports. Its business includes CDMO business providing research, product development and manufacturing services to Indian pharmaceutical companies, domestic branded generics business and an international branded generics business. In Fiscal 2022, among Indian formulation CDMO players considered in the CRISIL Report, it recorded the third highest operating revenue, the second highest operating profit margin, the third highest net profit margin and the second highest return on capital employed.
For the three months ended June 30, 2023, it had 133 CDMO customers, manufactured a diverse generics product portfolio of over 600 products and market them under our own brands in the Indian market through a developed network of approximately 5,000 distributors and stockists and over 150,000 retail pharmacies and exported branded generic products to 16 countries. It has a dedicated R&D laboratory and pilot equipment in Baddi, Himachal Pradesh, recognized by Department of Scientific and Industrial Research, Ministry of Science and Technology, Government of India (“DSIR”).
In the financial year 2023, the company’s restated consolidated revenue from operations rose 15.72% year-on-year (YoY) to Rs 926.38 crore, and profit after tax for the same period rose 6.26% to Rs 67.95 crore.
