Innova Captab IPO opens on December 21

 

Innova Captab IPO with price band of Rs 426-448 opens on December 21

Innova Captab, the Himachal Pradesh-based pharmaceutical finished dosage formulation manufacturing company, has fixed a price band at Rs 426-448 per share on December 16, for its Rs 570-crore public issue opening next week.

 The issue will open for subscription during December 21-26, while the company will launch its anchor book for a day on December 20.

The initial public offering by the pharmaceutical company comprises a fresh issuance of shares worth Rs 320 crore and an offer-for-sale (OFS) of Rs 250 crore by the existing shareholders.

Manoj Kumar Lohariwala and his brother Vinay Kumar Lohariwala, the promoters of the company, will be selling 19.53 lakh equity shares each in the OFS.