Pharma company Valiant Laboratories to go public on September 27

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Pharmaceutical company Valiant Laboratories has fixed the price band for its initial public offering (IPO) at Rs 133-140 per share. The offer will open for subscription on September 27 and close on October 3.

The firm is planning to raise Rs 152.46 crore via the IPO at the upper price band. The offer consists of only a fresh issue of 1.09 crore equity shares by the company.

Investors can bid for a minimum of 105 equity shares and in multiples of 105 shares thereafter. The minimum application size for retail investors would be Rs 14,700 (105 shares) and the maximum investment would be Rs 1,91,100 (1,365 shares), as they cannot exceed their investment limit beyond Rs 2 lakh in the IPO.

High networth individuals, with an investment limit of Rs 2 lakh to Rs 10 lakh, can invest a minimum of Rs 2,05,800 (for 1,470 shares) and a maximum of Rs 9,99,600 (for 7,140 shares), at the upper price band.

The company will use the net proceeds from the fresh issue to fund the expenditure for setting up a manufacturing facility for speciality chemicals (ketene and diketene derivatives products) in Bharuch, Gujarat owned by its subsidiary, Valiant Advanced Sciences. The remaining fresh issue money will be utilised for working capital requirements and general corporate purposes.

Valiant Laboratories is a Mumbai-based active pharmaceutical ingredient (API) and bulk drug manufacturing company with a focus on Paracetamol. It is owned by the promoters including Dhanvallabh Ventures LLP, which holds 62.5 percent shareholding. Promoters Shantilal Shivji Vora and Santosh Shantilal Vora hold 10.01 percent stake each in the company.

Valiant Organics, the listed entity on the BSE and NSE, is the promoter of Dhanvallabh Ventures LLP with 73.15 percent stake.

This is supposed to be the last amongst 13 public issues in the current month. Others included Manoj Vaibhav Gems N Jewellers, Sai Silks (Kalamandir), Signature Global, Yatra Online, Zaggle Prepaid Ocean Services, SAMHI Hotels, RR Kabel, EMS, Jupiter Life Line Hospitals, and Ratnaveer Precision Engineering.


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