Innova Captab Limited is a pharmaceutical company operating in three business segments.
Firstly, it provides contract development and manufacturing services to Indian pharmaceutical companies. Secondly, the company has a domestic business dealing in branded generics. And thirdly, the company has an international business that deals in branded generics.
The company’s product portfolio includes tablets, capsules, dry syrups, dry powder injections, ointments and liquid medicines.
In the financial year 2023 and the three months ended June 30, 2023, the company produced and sold more than 600 different types of generics. These products were distributed under the company’s own brands in the Indian market through a network of approximately 5,000 distributors and stockists and over 150,000 retail pharmacies. In addition, Innova Capitab exported its branded generic products to 20 and 16 countries in FY2023 and the three months ended June 30, 2023, respectively.
As of October 31, 2023, the company employed a team of 29 scientists and engineers in its research and development laboratory. The company’s manufacturing facility is located in Buddi, Haryana
The company’s customer base includes Cipla Limited, Glenmark Pharmaceuticals Limited, Wockhardt Limited, Corona Remedies Private Limited, Emcure Pharmaceuticals Limited, Lupin Limited, Intas Pharmaceuticals Limited, Leeford Healthcare Limited, Medley Pharmaceuticals Limited, Cachet Pharmaceuticals Limited, Eris Healthcare Private Limited, Indoco Remedies Limited, J. B. Chemicals and Pharmaceuticals Limited, Oaknet Healthcare Private Limited, Zuventus Healthcare Limited, Ajanta Pharma Limited, Mankind Pharma Limited and Smart Laboratories Private Limited.
As of October 31, 2023, the company has 200 active product registrations and 20 registrations pending renewal with international authorities. In addition, 218 new registration applications are being processed with international authorities.
Innova Captab IPO – Details
| IPO Opening Date | 21 December 2023 |
| IPO Closing Date | 26 December 2023 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 1,27,23,214 Shares Worth ₹570 Crore Fresh Issue: 71,42,857 Shares Worth ₹320 Crore Offer For Sale: 55,80,357 Shares Worth ₹250 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹426 – ₹448 |
| Market Lot | 33 Shares |
| Min Order | 33 Shares (1 Lot) |
| Listing At | BSE, NSE |
| Register | KFin Technologies Limited |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Innova Captab IPO – Date Schedule
| IPO Open Date | 21 December 2023 |
| IPO Close Date | 26 December 2023 |
| Basis of Allotment Date | 27 December 2023 |
| Initiation of Refund | 28 December 2023 |
| Credit of Shares to Demat Account | 28 December 2023 |
| IPO Listing Date | 29 December 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on 26 December 2023 |
Innova Captab IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 33 | 14,784 |
| Retail (Max) | 13 | 429 | 1,92,192 |
| S-HNI (Min) | 14 | 462 | 2,06,976 |
| S-HNI (Max) | 67 | 2211 | 9,90,528 |
| B-HNI (Min) | 68 | 2244 | 10,05,312 |
Competitive Strengths
- Leading presence and one of the fastest growing CDMOs in the Indian pharmaceutical formulations market;
- Well established relationships with their marquee CDMO customer base;
- Highly efficient operations, including the world class manufacturing facilities and supply chain;
- Rapidly growing domestic and international export branded generics businesses;
- Strong R&D focus to build an increasingly complex product portfolio and attract and retain customers;
- Consistent financial performance; and
- Experienced promoters and management team.
Company Promoters
- Manoj Kumar Lohariwala
- Vinay Kumar Lohariwala
Company Financials (Restated Consolidated)
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2021 | 412.03 | 365.68 | 34.50 | 45.03 |
| 31 March 2022 | 803.40 | 717.68 | 63.95 | 198.18 |
| 31 March 2023 | 935.57 | 843.78 | 67.95 | 235.19 |
Key Performance Indicator
| KPI | Values |
|---|---|
| P/E (x) | 37.73 |
| Market Cap (₹ Cr.) | 2563.7 |
| ROE | 24.58% |
| ROCE | 22.61% |
| Debt/Equity | 0.85 |
| EPS (Rs) | 14.16 |
| RoNW | 24.58% |
Object Of The Issue
- Repayment and / or prepayment in part or in full, of certain outstanding loans of the Company;
- Investment in the Subsidiary, UML, for repayment and / or prepayment in part or full of outstanding loans availed by UML;
- Funding the working capital requirements; and
- General corporate purposes.
Innova Captab IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 5 | Torrent Pharmaceuticals Limited | 57.61 |
| 2 | 2 | Laurus Labs Limited | 25.53 |
| 3 | 2 | Ajanta Pharma Limited | 42.91 |
| 4 | 2 | J. B. Chemicals and Pharmaceuticals Limited | 28.61 |
| 5 | 2 | NATCO Pharma Limited | 19.90 |
| 6 | 1 | Eris Lifesciences Limited | 33.01 |
| 7 | 2 | Indoco Remedies Limited | 22.74 |
| 8 | 1 | Suven Pharmaceuticals Limited | 37.13 |
| 9 | 5 | Windlas Biotech Limited | 22.04 |
Innova Captab IPO Promoter Holding
| Pre Issue Share Holding | 66.85% |
| Post Issue Share Holding | 51.68% |
Innova Captab IPO Prospectus
Company Contact Information
| Innova Captab Limited 601, Proxima, Plot No. 19, Sector 30 A, Vashi, Navi Mumbai, 400 705 Phone: +91 22 2564 2095 Email: investors@innovacaptab.com Website: https://www.innovacaptab.com/ |
Innova Captab IPO Registrar
| KFin Technologies Limited Phone: +91 40 6716 2222 Email: azad.ipo@kfintech.com Website: https://kosmic.kfintech.com/ipostatus/ |
Innova Captab IPO Lead Manager(s)
| 1. JM Financial Limited 2. ICICI Securities Limited |
Innova Captab IPO FAQs
| What is Innova Captab IPO? Innova Captab IPO is a main-board IPO. The issue is priced at ₹426 to ₹448 per equity share. The IPO is to be listed on BSE & NSE. |
| When Innova Captab IPO will open? The IPO is to open on 21 December 2023 for QIB, NII, and Retail Investors. |
| What is Innova Captab IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the Innova Captab IPO? You can apply Innova Captab IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Innova Captab IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Innova Captab”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Innova Captab IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Innova Captab“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Innova Captab IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Innova Captab”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Innova Captab IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Innova Captab”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Innova Captab IPO Size? Innova Captab IPO size is ₹570 Crore. |
| What is Innova Captab IPO Price Band? Innova Captab IPO Price Band is ₹426 to ₹448. |
| What is Innova Captab IPO Minimum and Maximum Lot Size? The minimum bid is 33 Shares with ₹14,784 amount while the maximum bid is 429 Shares with ₹1,92,192. |
| What is the Innova Captab IPO Allotment Date? Innova Captab IPO allotment date is 27 December 2023. |
| What is the Innova Captab IPO Listing Date? Innova Captab IPO listing date is 29 December 2023. The IPO is to list on BSE and NSE. |
