Valiant Laboratories IPO: Issue subscribed 29.75 times on day 4; retail portion booked 16.04x

Valiant Laboratories IPO opened for subscription on Wednesday, September 27, and closes on Tuesday, October 3. The company has fixed the price band at ₹133 to ₹140 per equity share for the proposed initial public offer.

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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.

On day 4, Valiant IPO retail investors portion was subscribed 16.04 times, NII portion was subscribed 73.63 times, and Qualified Institutional Buyers (QIB) portion were booked 20.83 times.

Also Read: Valiant Laboratories IPO: Issue fully booked on day 3; retail portion oversubscribed

Valiant IPO subscription status details

Valiant Laboratories IPO has received bids for 22,67,63,670 shares against 76,23,030 shares on offer, at 17:12 IST, according to data from the BSE.

Valiant IPO retail investors’ portion received bids for 6,11,23,020 shares against 38,11,500 shares on offer for this segment.

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

Valiant Laboratories IPO’s non-institutional investors’ portion received bids for 12,02,79,495 shares against 16,33,500 on offer for this segment.

Valiant IPO Qualified Institutional Buyers (QIBs) portion received bids for 4,53,61,155 shares against 21,78,030 shares on offer for this segment.

Also Read: IPOs This Week: Valiant Laboratories IPO to Kontor Space IPO, 7 listings to keep primary market buzzing

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.

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.

The book-running lead managers for the Valiant IPO is Unistone Capital Private Ltd. Link Intime India Private Ltd is the IPO registrar.

Also Read: Valiant Laboratories IPO: Firm mobilises ₹45 crore from anchor investors ahead of issue

Valiant Laboratories IPO GMP today

Valiant IPO GMP today or grey market premium is +22 higher than previous trading session, which is +15. This indicates that the shares of Valiant IPO GMP today were trading at a premium of ₹22 in the grey market on Tuesday, according to investorgain.com.

Also Read: Valiant Laboratories IPO: Issue subscribed 33% on day 1; check GMP, other key details

Considering the upper end of the Valiant IPO price band and the current premium in the grey market, the estimated listing price of Valiant share price was ₹162 apiece, which is 15.71% higher than the Valiant IPO issue price of ₹140.

Valiant IPO GMP on Tuesday, September 26 was ₹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.

Also Read:Valiant Laboratories IPO opens today: GMP, issue details, other key things to know. Should you subscribe?

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Updated: 03 Oct 2023, 05:27 PM IST