Shares of Valiant Laboratories will be listed on the bourses on Friday. The IPO price has been fixed at Rs 140, at the upper end of the price band of Rs 133-140. The company raised Rs 152 crore through the IPO.
The Valiant Laboratories IPO was subscribed 29.76 times, thanks mainly to high networth individuals (HNIs) who subscribed 73.64 times against their quota, and retail investors 16.06 times
The company, which specialises in manufacturing Paracetamol as an Active Pharmaceutical Ingredient (API) or bulk drug, plans to utilise the funds for investment in Valiant Advanced Sciences Pvt Ltd (VASPL), a wholly-owned subsidiary, to partially fund its capital expenditure for setting up a manufacturing facility for specialty chemicals at Saykha Industrial Area, Bharuch, Gujarat.
As part of the IPO, Valiant Laboratories on Tuesday raised ₹45.74 crore from anchor investors. Leading Light Fund VCC - The Triumph Fund - has bought shares worth ₹20 crore. Saint Capital Fund, Astorne Capital VCC - Arven, and Negen Undiscovered Value Fund - also participated in the anchor book.