IPO Corner: Innova Captab Ltd.

Innova Captab Limited 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, has fixed the price band at Rs 426 to Rs 448 per Equity Share for its maiden initial public offer.  The Initial Public Offering of the Company will open on Thursday, December 21, 2023, for subscription and close on Tuesday, December 26, 2023. Investors can bid for a minimum of 33 Equity Shares and in multiples of 33 Equity Shares thereafter.

The Offer of Equity Shares with a face value of Rs10 consists of a fresh issue of Equity Shares worth up to Rs 3,200.00 million and an Offer for Sale up to 5,580,357 Equity Shares.

Innova Captab Limited 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 a contract development and manufacturing organization business providing research, product development and manufacturing services to Indian pharmaceutical companies, a domestic branded generics business and an international branded generics business.

In Fiscal 2022, among Indian formulation CDMO players, 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, in Fiscal 2023 and in the three months ended June 30, 2023, it manufactured a diverse generics product portfolio of over 600 products and market them under its own brands in the Indian market through a developed network of approximately 5,000 distributors and stockists and over 150,000 retail pharmacies and in the three months ended June 30, 2023, it exported branded generic products to 16 countries.

The Offer is being made through the Book Building Process. The equity shares are proposed to be listed on BSE and NSE.