Innova Captab Ltd IPO: Issue Details, Open/Close Date | Research 360 by Motilal Oswal
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Innova Captab

CMP

492.35

+1.50 (0.31%)

  • DRHP
₹448

Offer Price

₹ 570.00 Cr

Issue Size

₹ 14,784

Min Investment

55.26x

Times Subscribed

33

Lot size

Time Line

  • 21
    Dec 2023
    Open
  • 26
    Dec 2023
    Close
  • 27
    Dec 2023
    Finalisation of Basis of Allotment
  • 28
    Dec 2023
    Initiation of Refunds
  • 28
    Dec 2023
    Transfer of Shares to Demat Account
  • 29
    Dec 2023
    Listing Date

Shares Offered

Number of Times Subscribed

Objects of the Offer

  • Expansion of its manufacturing capacities.

  • Integration of the acquired Sharon business.

  • Expand the wallet share of existing customers and develop new customers.

  • Continued focus on its R&D operations.

  • Growing its international export business.

Products & Services

  • Innova Captab Limited is an integrated pharmaceutical company in India with a presence across the pharmaceuticals value chain.

Strengths

  • leading presence and one of the fastest growing CDMOs in the Indian pharmaceutical formulations market.

  • Well established relationships with its marquee CDMO customer base.

  • Highly efficient operations, including its 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.

Risks

  • Its Restated Consolidated Financial Information are not comparable on a period-to-period basis and to any future financial results that its may prepare and further, the company Pro Forma Condensed Consolidated Financial Information have not been prepared in accordance with generally accepted accounting principles including accounting standard and therefore, is subject to change and may not give an accurate picture of its factual results of operations or financial condition.

  • The company operate in a market that is highly competitive. Its compete to provide outsourced pharmaceutical manufacturing services or CDMO services and products, particularly for formulations, to pharmaceutical companies in India and other jurisdictions. In addition, its branded generic products compete with generic products of other suppliers in India and other jurisdictions.

  • The company has recently acquired Sharon, and does not yet know whether it will achieve the expected benefits from such acquisition, which could materially adversely affect its business, results of operation, cash flows and financial condition.

  • Its business is dependent and will continue to depend on the company manufacturing facilities, and its subject to certain risks in the company`s manufacturing process such as the breakdown or failure of equipment, industrial accidents, severe weather conditions and natural disasters.

  • The company depends on a limited number of contract development and manufacturing organization ("CDMO") customers. Any reduction in the number of CDMO customers and adverse developments or inability to enter into or maintain relationships with these CDMO customers could have an adverse effect on its business, results of operations and financial condition.

Company Promoters

Promoters Holding

Issue For IPO
15.05%
Pre Holding

65.94%

Post Holding

50.89%

Top Promoters Holding

Financials

All values in Cr

Mar-2022 Mar-2023 Mar-2023 3-Yr trend
Revenue 800.53 (94.90%) 926.38 (15.70%) 24.58 (-)
Gross Profit 800.53 (94.90%) 926.38 (15.70%) 24.58 (-)
Net Income 800.53 (94.90%) 926.38 (15.70%) 24.58 (-)
Assets 800.53 (94.90%) 926.38 (15.70%) 24.58 (-)
Liabilities 800.53 (94.90%) 926.38 (15.70%) 24.58 (-)

Peers

Company Name Revenue (Cr) Net Profit (Cr) Assets (Cr) Liabilities (Cr) ROE EPS BVPS Current Ratio Debt to Assets
Innova Captab Ltd 926.38 67.95 524.35 200.99 24.58 14.16 57.61 2.39 0.36
Suven Pharmaceuticals Ltd 1,340.33 411.29 1,965.74 1,965.74 23.70 16.16 68.16 20.92 0.00
Torrent Pharmaceuticals Ltd 9,620.15 1,245.23 15,011.85 15,011.85 20.09 36.79 183.13 8.29 0.85
Ajanta Pharma Ltd 3,742.64 587.98 4,679.02 4,679.02 17.35 45.89 268.14 12.56 0.00
ERIS Lifesciences Ltd 1,685.15 382.16 3,667.33 3,667.33 17.40 28.10 163.30 10.42 0.38
Indoco Remedies Ltd 1,668.61 142.25 1,658.20 1,658.20 13.83 15.44 111.58 8.57 0.31
J B Chemicals & Pharmaceuticals Ltd 3,149.28 409.84 3,553.87 3,553.87 16.52 53.00 320.55 11.53 0.22
Laurus Labs Ltd 6,040.55 790.11 7,660.40 7,660.40 19.56 14.64 75.16 10.31 0.49
Natco Pharma Ltd 2,707.10 715.30 5,657.40 5,657.40 14.67 39.18 267.06 12.64 0.03
Windlas Biotech Ltd 513.08 42.63 528.98 528.98 10.59 19.70 192.24 8.05 0.00

Book Running Managers

  • JM Financial Ltd
  • ICICI Securities Ltd

Registrar & Transfer Agent

KFin Techologies Ltd

Karvy Selenium Tow-B,
31&32 Financial Dist,
Nanakramguda - Hyderabad-500032
Phone : 91-40-67162222 Fax: 91-40-23001153/23420814

Company Contact Information

601 Proxima Plot # 19,
Sector 30 A Vashi,
Navi Mumbai - 400705
Phone : 91-22-2564 2095 Email : investors@innovacaptab.com www.innovacaptab.com

Offer Related Information

Initial public offering of 12,723,214^ equity shares of face value of Rs. 10 each ("Equity Shares") of the company for cash at a price of Rs. 448 per equity share (including a share premium of Rs. 438 per equity share) ("Offer Price") aggregating Rs. 570.00 crores ("Offer"). The offer comprises of a fresh issue of 7,142,857 equity shares aggregating Rs. 320.00 crores ("Fresh Issue") and an offer for sale of 5,580,357 equity shares ("Offered Shares") aggregating Rs. 250.00 crores, comprising of... More

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