Innova Captab IPO: Here are 10 things to know before you subscribe to the issue

Innova Captab IPO raised ₹171 crore from anchor investors. The company informed the bourses that it allocated 3,816,963 equity shares at ₹448 per share on Wednesday, December 20, 2023, to anchor investors.

Foreign and Domestic Institutions who participated in the anchor were ICICI Prudential MF, Kotak Mahindra MF, Ashoka White Oak MD, SBI Life Insurance, 360 One MF, Bandhan MF, Canara Robeco MF, Aditya Birla Sun Life Insurance, Edelweiss MF, ITPL-Invesco MF, & others.

At the higher limit of the price range, the company has a valuation that is equivalent to 34 times its earnings for the financial year 2022-23 (April-March).

Here’s a list of 10 important factors that you should consider before subscribing —

Innova Captab IPO date – The issue opens for subscription on December 21, 2023 and closes on December 26, 2023. 

Innova Captab IPO price band – The company’s price band is set at ₹426 to ₹448 per share.

Innova Captab IPO size – It is a book built issue of ₹570 crores and is a combination of fresh issue of 0.71 crore shares aggregating to ₹320 crores and offer for sale of 0.56 crore shares aggregating to ₹250 crores.

Innova Captab IPO allotment date – The allotment for the Innova Captab IPO is expected to be finalized on Wednesday, December 27, 2023. 

Innova Captab IPO listing date – The IPO will list on BSE, NSE with tentative listing date fixed as Friday, December 29, 2023.

Innova Captab IPO reservation – The offer is being made through the Book Building Process, wherein not more than 50% of the offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers, not less than 15% of the Offer shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders.

Innova Captab IPO registrar – ICICI Securities Limited and Jm Financial Limited are the book running lead managers of the IPO.

Innova Captab IPO book-running managers – Kfin Technologies Limited is the registrar for the issue.

Innova Captab IPO promoters – The Promoters of the company are Manoj Kumar Lohariwala and Vinay Kumar Lohariwala.

Innova Captab IPO objective – The company proposes to utilise the net proceeds from the fresh issue towards repayment and / or prepayment in part or in full, of certain outstanding loans, funding the working capital requirements.

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Published: 20 Dec 2023, 10:37 PM IST