Valiant IPO opens tomorrow: GMP, issue details, 10 key things to know

Valiant Laboratories specialises in manufacturing Paracetamol as an Active Pharmaceutical Ingredient (API) or Bulk Drug. A manufacturing facility owned by Valiant Laboratories is located in Palghar, Maharashtra, India.

There is an internal research and development (R&D) infrastructure within the company’s production facilities in Maharashtra. The company’s R&D facility is furnished with an analytical laboratory and infrastructure for product development activities.

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Valiant Laboratories is promoted by Shantilal Shivji Vora, Santosh Shantilal Vora and Dhanvallabh Ventures LLP.

According to red herring prospectus (RHP), listed peers of Valiant Laboratories are Granules India Ltd (with P/E of 15.06), Jagsonpal Pharmaceuticals Ltd (with P/E of 41.54), Alkyl Amines Chemicals Ltd (with P/E of 55.59), Laxmi Organic Industries Ltd (with 66.07).

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Here are the 10 key things to know about Valiant Laboratories IPO:

Valiant IPO date: Valiant Laboratories IPO opens for subscription on Wednesday, September 27, and closes on Tuesday, October 3.

Valiant IPO price band: The company has fixed the price band at ₹133 to ₹140 per equity share for the proposed initial public offer.

Valiant Laboratories IPO lot size: Bids can be made for a minimum of 105 equity shares and in multiples of 105 equity shares thereafter

Anchor investors: The allocation to anchor investors for Valiant IPO is scheduled to take place today (Tuesday, September 26).

Valiant Laboratories IPO details: Valiant IPO, which is worth ₹152.46 crores, is completely a fresh issue of 10,890,000 equity share; there is no offer for sale (OFS) component.

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Valiant Laboratories IPO objectives: The company plans to use the net proceeds from the offering to fund its objectives as follows: an investment in Valiant Advanced Sciences Private Limited (VASPL), a wholly owned subsidiary, to partially fund its capital expenditure needs in connection with the establishment of a manufacturing facility for specialty chemicals at Saykha Industrial Area, Bharuch, Bharuch, Gujarat (Proposed Facility); an investment in VASPL to fund its working capital requirements; and to meet general corporate purposes.

Valiant IPO listing date and allotment details: Valiant Laboratories IPO’s basis of allotment of shares will be finalised on Thursday, October 5 and the company will initiate refunds on Friday, October 6, while the shares will be credited to the demat account of allottees on the same day. Valiant IPO shares are likely to be listed on BSE and NSE on Monday, October 9.

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Lead Manager and Registrar of Valiant IPO: The book-running lead managers for the Valiant IPO is Unistone Capital Private Ltd. Link Intime India Private Ltd is the IPO registrar.

Valiant Laboratories IPO reservation: Valiant Laboratories IPO has reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors.

Valiant Laboratories IPO GMP today: Valiant IPO GMP today or grey market premium is ₹0, which meant Valiant Laboratories shares were trading at their issue price of ₹140 with no premium or discount in the grey market according to topsharebrokers.com

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

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Updated: 26 Sep 2023, 06:48 PM IST