Valiant Laboratories IPO: The initial public offering of pharmaceutical ingredient manufacturer Valiant Laboratories, which began on September 27 and concluded on September 29 after two days of tendering, was oversubscribed by 2.17 times. There were 76,23,030 proposals for the IPO’s 1,657,925 available shares.
The IPO allocation will occur on October 5, 2023. The manufacturer of paracetamol will list its shares on October 9.
Valiant Laboratories IPO GMP Today
According to market observers, unlisted shares of Valiant Laboratories Ltd are presently trading 15 rupees above their issuance price on the grey market. The Rs 15 grey market premium (GMP) is approximately 10.71 percent more than the Rs 140 upper issue price per share. This indicates that the grey market anticipates a 10.71% listing gain from the public offering.
The term ‘grey market premium’ denotes the willingness of investors to pay more than the issue price.
The initial public offering of pharmaceutical ingredient manufacturer Valiant Laboratories, which began on September 27 and concluded on September 29 after two days of tendering, was oversubscribed by 2.17 times. There were 76,23,030 proposals for the IPO’s 1,657,925 available shares.
Details of the Valiant Laboratories IPO
The initial public offering began accepting subscriptions on September 27 and will end on October 3. It is a completely new issuance of up to 1.08 billion shares of stock with no offer-for-sale component.
The offer price range is between Rs 133 and Rs 140 per share. Investors are permitted to submit bids for a minimum of 69 shares and multiples thereof.
The proceeds of the offering will be used to establish a manufacturing facility for specialty chemicals in Gujarat via its subsidiary, Valiant Advanced Sciences Private Ltd., and to meet the subsidiary’s working capital needs.
Valiant Laboratories is a manufacturer of active pharmaceutical ingredients or bulk drugs with a concentration on paracetamol, which is used to treat migraines, muscle pains, arthritis, backache, toothache, and fever.
Unistone Capital is the offer’s manager.
The company’s equity shares will be listed on the BSE and the NSE.
