Valiant Laboratories is into Healthcare & Pharmaceuticals-Pharmaceutical API and is looking raise funds through Fresh Issue
Valiant Laboratories IPO is a public offering of shares by Shantilal Shivji Voraand Dhanvallabh Ventures LLP. The IPO will open on September 27 and will close on October 03. The price band is ₹133 to ₹140 per share and the lot size is 105 shares. The issue size is ₹152.46 crore. The shares are expected to be listed on NSE, BSE on October 09 (^). Some additional information that you may find useful are: Manufacturingfacility is located at Tarapur (Boisar, Maharashtra) at an estimated capacity of 9000 mtpa. Capacity utilisation for FY23/FY22/FY21 were at 70.22%/71.11%/66.83%. Valiant Advanced Sciences Private Limited (VASPL) expansion plan is to establish a greenfield project to manufacture of speciality chemicals such asketene and diketene derivative products. Plant is proposed to setup at Saykha Industrial Area, Bharuch, Gujarat on an area of 57,766 sq. mtrs.: (**) - based on higher price band (^) indicative date
Promoters of the company are Shantilal Shivji Voraand Dhanvallabh Ventures LLP Currently promoters hold 100% stake in the company. It has 3 top group companies - Aarti Industries, Aarti Pharmalabs and Valiant Organics.
Quick Pointers
- Company aims to raise between Rs 145 to 152 crs through this IPO.
- The net proceeds of the issue will be utilized to 1) Investment in VASPL (wholly owned subsidiary, Valiant Advanced Sciences Private Limited) for part-financing its capital expenditure requirements in relation to the setting up of the Proposed Facility amounting to Rs. 80 cr and 2) Investment in VASPL for funding its working capital requirements amounting to Rs. 45 cr
- Anchor bidding is expected to commence one day prior to the IPO dates. Tentative anchor bidding date would be 26-Sep-23.
- Price band for the IPO has been fixed at Rs 133 to 140 per share and bid lot are in multiple of 105 shares. The implied market cap post-issue at Rs 578 to 608 crs.
- As per the tentative schedule, allotment date of this IPO is most likely on October 05 and share are expected to be listed on NSE, BSE on October 09.
- Company has direct peer competition in India'a Pharmaceutical API market, In Listed space peers includes Granules India and Jagsonpal Pharmaceuticals.
- Unistone Capital has been appointed as Merchant Banker to the issue. Link Intime India Pvt. Ltd. has been appointed as official registrar of the issue.
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IPO Quick Snapshot
About Company
Company established in 1980 is into Active Pharmaceutical Ingredient (“API”) / Bulk Drug manufacturing having focus on manufacturing of Paracetamol. Bulk drugs/Active Pharmaceutical Ingredients (API) serve as raw materials for manufacturing finished dosage forms or formulations. Paracetamol (Scientific name: Acetaminophen or para-hydroxyacetanilide -C8H9NO2), is one of the most commonly taken analgesic worldwide and is recommended as the first-line therapy in pain conditions by the World Health Organization (WHO). Company manufacture Paracetamol in various grades such as IP/BP/EP/USP, as per the pharmacopeia requirements of our customers. It has 3 top group companies - Aarti Industries, Aarti Pharmalabs and Valiant Organics.
Manufacturing facility is located at Tarapur (Boisar, Maharashtra) at an estimated capacity of 9000 mtpa. Capacity utilisation for FY23/FY22/FY21 were at 70.22%/71.11%/66.83%. Valiant Advanced Sciences Private Limited (VASPL) expansion plan is to establish a greenfield project to manufacture of speciality chemicals such asketene and diketene derivative products. Plant is proposed to setup at Saykha Industrial Area, Bharuch, Gujarat on an area of 57,766 sq. mtrs.
About Industry
The pharmaceutical API industry in India is ranked third-largest globally in terms of volume. The paracetamol API industry (Domestic consumption+ exports) grew from Rs. 22 billion in fiscal 2017 to Rs. 39 billion in fiscal 2023. Going forward the paracetamol API industry is expected to clock a CAGR of 5-7% between fiscal 2023 and fiscal 2027, largely driven by the demand from domestic formulation manufacturers as well asexportmarkets.
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Source: DRHP, RHP, Company, Company Website | Logo/Images published in the article may be copyright of respective companies.
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