Innova Captab Shares Debut on Stock Market - 16% Higher
By Rediff Money Desk, NEWDELHI Dec 29, 2023 10:48
Innova Captab Ltd shares made a muted market debut on Friday, listing with a marginal premium of nearly 2% on the BSE. The stock later jumped 16.29% to Rs 521.
![Innova Captab Shares Debut on Stock Market - 16% Higher](https://im.rediff.com/money/2018/jun/18it.jpg)
New Delhi, Dec 29 (PTI) Shares of integrated pharmaceutical company Innova Captab Ltd made a muted market debut on Friday, listing with a marginal premium of nearly 2 per cent on the BSE, against the issue price of Rs 448.
The stock made its debut at Rs 456.10, recording a gain of 1.80 per cent from the issue price on the BSE. Later, it jumped 16.29 per cent to Rs 521.
At the NSE, it listed at Rs 452.10, up 0.91 per cent. Shares of the company later climbed 16.07 per cent to Rs 520.
The company's market valuation was Rs 2,880.99 crore during the morning trade.
The Initial Public Offer (IPO) of Innova Captab received 55.26 times subscription on the last day of bidding on Tuesday.
The Rs 570-crore initial share sale had a fresh issue of equity shares of up to Rs 320 crore and an offer for sale up to 5,580,357 equity shares.
The price range for the offer was Rs 426-448 a share.
Innova Captab is an integrated pharmaceutical company with presence across pharmaceuticals value chain, including research and development, manufacturing, drug distribution, marketing, and exports.
The stock made its debut at Rs 456.10, recording a gain of 1.80 per cent from the issue price on the BSE. Later, it jumped 16.29 per cent to Rs 521.
At the NSE, it listed at Rs 452.10, up 0.91 per cent. Shares of the company later climbed 16.07 per cent to Rs 520.
The company's market valuation was Rs 2,880.99 crore during the morning trade.
The Initial Public Offer (IPO) of Innova Captab received 55.26 times subscription on the last day of bidding on Tuesday.
The Rs 570-crore initial share sale had a fresh issue of equity shares of up to Rs 320 crore and an offer for sale up to 5,580,357 equity shares.
The price range for the offer was Rs 426-448 a share.
Innova Captab is an integrated pharmaceutical company with presence across pharmaceuticals value chain, including research and development, manufacturing, drug distribution, marketing, and exports.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 2.93 ( -4.87)
- 226206286
- IFL Enterprises
- 1.30 (+ 4.84)
- 81461564
- Vodafone Idea L
- 16.79 (+ 0.66)
- 67447398
- NCL Research
- 0.95 ( -4.04)
- 31996628
- Franklin Industries
- 3.73 (+ 3.32)
- 21511209
MORE NEWS
![Navi Mumbai...](https://im.rediff.com/80-80/money/2021/jun/10navi-mumbai-airport7.jpg)
Navi Mumbai Airport ILS Signal Testing Begins
The Airports Authority of India (AAI) has begun ILS signal testing at the...
![Air India VRS for...](https://im.rediff.com/80-80/money/2020/sep/09tata-vistara-3.jpg)
Air India VRS for Non-Flying Staff Ahead of...
Air India has announced a voluntary retirement scheme (VRS) and voluntary separation...
Fisher Groups Oppose WTO Fisheries Subsidy Talks
Small-scale fisher groups from India, Indonesia, and Bangladesh demand WTO keep...