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The ₹152 crore IPO of Valiant Laboratories opens today. The company has fixed the price band at ₹133-140 and the market lot is 105 shares.
Valiant IPO is completely a fresh issue of 1.089 crore shares.
The company, which specialises in manufacturing Paracetamol as an Active Pharmaceutical Ingredient (API) or Bulk Drug, plans to utilise the funds: an investment in Valiant Advanced Sciences Private Limited (VASPL), a wholly owned subsidiary, to partially fund its capital expenditure needs in connection with the establishment of a manufacturing facility for speciality chemicals at Saykha Industrial Area, Bharuch, Bharuch, Gujarat (Proposed Facility); an investment in VASPL to fund its working capital requirements; and to meet general corporate purposes.
As part of IPO, Valiant Laboratories on Tuesday raised ₹45.74 crore from anchor investors. Leading Light Fund VCC - The Triumph Fund - bought shares worth ₹20 crore. Saint Capital Fund, Astorne Captal VCC - Arven, and Negen Undiscovered Value Fund were also participated in the anchor book.
Unistone Capital Private Ltd is the book-running lead managers for the IPO and Link Intime India Private Ltd the IPO registrar.
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