Panchkula based Pharmaceutical Company Innova Captab files DRHP with SEBI for the proposed IPO; Key Details here

Innova Captab is into Healthcare & Pharmaceuticals Pharmaceutical and is looking raise funds through Fresh Issue and Offer For Sale

Innova CaptabIPO: Fresh Issue of Equity shares aggregating up to Rs.400 crores. Offer of Sale of 9,600,000 Equity Shares through public issue IPO

Innova Captab IPO: Innova Captab Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 10 per share via initial public offering.

. ICICI Securities, JM Financial have been appointed as lead merchant bankers for the proposed IPO. It has appointed Kfin Technologies Ltd. as Registrar and Share transfer Agent. Company is yet to finalize issue size and some other important details relating to the IPO.

Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue aggregating Rs. 400 Crs and offer-for-sale (OFS) of up to 9,600,000 equity shares by Manoj Kumar Lohariwala, Vinay Kumar Lohariwala and Gian Prakash Aggarwal who will offload upto 3,200,000 Equity Shares, up to 3,200,000 Equity Shares and Up to 3,200,000 Equity Shares respectively...

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Objects of the issue:
1) Repayment and/or prepayment of loans - Rs. 144.4 cr., 2) Investment in our Subsidiary, UML, for repayment and / or prepayment of loans - Rs. 23.6 cr., 3) Funding working capital requirements - Rs. 72 cr.., and 4) General corporate purposes.

Promoters of Innova Captab are Manoj Kumar Lohariwala and Vinay Kumar Lohariwala and holds 69.75% stake in the company.

About Company:
Innova Captab is integrated pharmaceutical company with presence across the pharmaceuticals value chain including research and development, manufacturing, drug distribution and marketing and exports. Business includes (i) a CDMO business providing research, product development and manufacturing services to Indian pharmaceutical companies, (ii) a domestic branded generics business and (iii) an international branded generics business. Company has three mannufacturing facilities including one owned facility at Baddi (Himachal Pradesh) and two units at its acquired unit at Dehradun (Uttarakhand) and Taloja (Maharashtra). Total installed capacity is at 8.19 bn tablets and 2.47 bn capsules. Company plans to setup 1) R&D Facility at Panchkula (Himachal Pradesh adn 2) New Manufacturing facility at Samba (Jammu & Kashmir).

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About Industry:
The Indian CDMO market has grown at a rate of 14% in the last five years from Fiscal 2018 to Fiscal 2023, and CRISIL Research expects this trend to continue over the next five years from Fiscal 2023 to Fiscal 2028 with the Indian CDMO market projected to grow at approximately a 12-14% CAGR over the next five years from ₹1,310 billion in Fiscal 2023 to ₹2,400-2,500 billion in Fiscal 2028. (Source: CRISIL Report, October 2023). According to CRISIL Research, in dosage terms, oral solids dominate the Indian formulations industry with approximately 63% share in value terms and 62% in volume terms in Fiscal 2023. (Source: CRISIL Report, October 2023). Similarly, the injectables segment constituted 14-15% (in value terms) and approximately 14% (in volume terms) of all dosage forms catered by domestic formulations industry in Fiscal 2023.

Source: SEBI, BSE, NSE, DRHP, Innova Captab, Industry Data

Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.