Valiant Laboratories shares listed at 15.82% premium over IPO price on bourses. The share debuted at Rs 162.15 on the NSE and at Rs 161 on the BSE, as compared to the issue price of Rs 140. The investors have made a profit of Rs 22.15 per share as the scrip gave nearly 16% return to investors on the listing.
Should you hold or book profit ?
The IPO was subscribed 29.76 times, indicating a positive response from investors. “Overall, the listing of Valiant Laboratories was positive, with the company receiving a good response from investors. However, investors should carefully consider related risks as well, like the company’s single-product focus, dependence on a limited number of suppliers and customers, and the competitive industry. Thus, investors are advised to book profits and exit their positions, but those who want to hold for the long term should keep a stop loss at Rs 150,” said Shivani Nyati, Head of Wealth, Swastika Investmart.
Valiant Laboratories IPO
Valiant Laboratories IPO opened for public subscription on Wednesday, September 27, 2023, and closed on Tuesday, October 3. The bidding for anchor investors concluded on Tuesday, September 26, wherein the company collected Rs 45.74 Crore from the Anchor investors ahead of the public issue. The price band for its public issue at Rs 133-140 per equity share of face value Rs 10 each. The IPO comprised a fresh issue of 10,890,000 equity shares aggregating up to Rs 152.46 crore. The minimum lot size for the IPO is 105 shares, and the amount of investment required by retail investors was Rs 14,700.
The IPO was subscribed 29.76 times. The Qualified Institutional Buyers (QIBs) category was subscribed 20.83 times, the portion for non-institutional investors received a 73.64-time subscription, and the Retail Individual Investors (RIIs) quota got subscribed by 16.06 times. Valiant Laboratories’ shares’ GMP rose 14.29% ahead of listing.
Valiant Laboratories is an Active Pharmaceutical Ingredient and Bulk Drug manufacturing company focusing on manufacturing Paracetamol. The company manufactures Paracetamol in various grades and sizes per customers’ specifications, like powder, fine powder, dense, free flowing, etc. The company has a track record of sustained revenue growth, growing at a CAGR of 35.3% during FY21-23.