Innova Captab IPO
Innova Captab IPO — date, price band, lot size & details 2023
Innova Captab listed on 29 Dec 2023 at ₹452.1, 0.9% above the ₹448 issue price.
Innova Captab is an integrated pharmaceutical company with a CDMO business for Indian drug makers and domestic and international branded generics. Its total income was Rs 935.58 crore in FY2023.
Stock price
Innova Captab is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 21 Dec 2023
- Close 26 Dec 2023
- Allotment 27 Dec 2023
- Refund/credit 28 Dec 2023
- Listing 29 Dec 2023
Issue summary
The terms of the offer, as filed.
| IPO Dates | 21 to 26 Dec, 2023 |
|---|---|
| Price Band | ₹426 – ₹448 |
| Face Value | ₹10 |
| Lot Size | 33 Shares |
| Issue Size | ₹570 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,784 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 33 shares at the ₹448 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 33 | ₹14,784 |
| Retail (max) | 13 | 429 | ₹1,92,192 |
| S-HNI (min) | 14 | 462 | ₹2,06,976 |
| S-HNI (max) | 67 | 2,211 | ₹9,90,528 |
| B-HNI (min) | 68 | 2,244 | ₹10,05,312 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 412.03 crore in FY2021 to Rs 935.58 crore in FY2023.
- 02Profit after tax rose from Rs 34.50 crore in FY2021 to Rs 67.95 crore in FY2023.
- 03It had the 3rd highest operating revenue among Indian formulation CDMO players in Fiscal 2022, as per CRISIL.
- 04Rs 144.40 crore of the fresh issue was planned for repaying debt.
- 05The source puts return on net worth at 24.58%.
Risks · 5
- 01Total borrowing rose from Rs 45.03 crore on 31 March 2021 to Rs 441.90 crore on 30 June 2023.
- 02Margins are thin, and the source puts the PAT margin at 7.34%.
- 03The pre-issue P/E was 31.64 at the upper band of Rs 448, as per the source.
- 04Profit was Rs 17.59 crore in the three months to 30 June 2023, and growth slowed in FY2023 to Rs 67.95 crore.
- 05Promoters and the promoter group held 66.85% before the issue and about 51.68% after it, as per the RHP share counts.
Three years of numbers
All figures in ₹ crore, as reported in the Innova Captab offer document.
| Metric | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 1,086.16 | 704.41 | 575.48 | 369.62 |
| Total Income | 234.37 | 935.58 | 803.41 | 412.03 |
| Profit After Tax | 17.59 | 67.95 | 63.95 | 34.50 |
| NET Worth | 365.51 | 276.51 | 208.61 | 144.82 |
| Reserves and Surplus | 317.51 | 228.51 | 196.61 | 132.82 |
| Total Borrowing | 441.90 | 235.19 | 198.18 | 45.03 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Innova Captab RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Innova Captab IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| P/E Ratio (x) | 31.64 | 36.42 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹448 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹293.11 Cr of the issue is earmarked to named objects.
About the company
Its business has three parts: a CDMO business giving research, development and manufacturing services to Indian pharmaceutical companies, a domestic branded generics business and an international branded generics business.
As per CRISIL, in Fiscal 2022 it had the third highest operating revenue and the second highest operating margin among Indian formulation CDMO players covered in the report.
The IPO was Rs 570 crore, with Rs 320.00 crore of fresh issue and Rs 250.00 crore of offer for sale by the two promoters and another shareholder. Rs 144.40 crore was planned for repaying borrowings and Rs 72.00 crore for working capital.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Innova Captab IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
125 issues handledBest listing: Tata Technologies (+140.0%). Weakest: ACME Solar Holdings (-13.1%).
ICICI Securities
133 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Innova Captab?
The current Grey Market Premium is ₹70, or 16% over the issue price.
What is the Innova Captab IPO price band?
₹426 to ₹448, on a face value of ₹10.
When is the allotment?
The basis of allotment is 27 December 2023, with listing on 29 December 2023.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
