Pharma CDMO / Contract Manufacturing - Listed on 29 December 2023
Innova Captab (Pharma CDMO / Contract Manufacturing) closed its IPO window in 2023 and listed on NSE and BSE on 29 December 2023 at an upper band issue price of Rs 448, opening at Rs 452.1 for a listing gain of +0.9% and closing day one at Rs 541.4 (+20.8% on closing basis). The IPO was subscribed 55.26x overall - QIB 116.73x, HNI/NII 64.95x, Retail 17.15x. The total issue size was Rs 570 Cr (Fresh Issue Rs 320 Cr, OFS Rs 250 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Pharma CDMO / Contract Manufacturing
Innova Captab operates in the Pharma CDMO / Contract Manufacturing space. The company’s listed profile is shaped by its operating niche, customer demand and ability to convert that demand into steady cash flows. Investors should read its exchange filings alongside the headline listing numbers for a fuller view of the business.
Issue structure, listing outcome and context
The Innova Captab issue was offered at an upper price of Rs 448 and raised approximately Rs 570 crore. The final outcome reflected a mix of subscription demand, valuation, market conditions and the company’s own operating story. Fresh issue and offer-for-sale details, where available, are shown in the issue metrics below.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 210 | +46.88% |
| Day 2 | Rs 210 | +46.88% |
| Day 3 | Rs 150 | +33.48% |
| Day 4 | Rs 100 | +22.32% |
| Day 5 | Rs 130 | +29.02% |
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
How the broader market moved around the Innova Captab IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
Innova Captab IPO listed at +0.9% versus the upper issue price of Rs 448 on 29 December 2023.
Innova Captab IPO was subscribed 55.26x overall. QIB portion was subscribed 116.73x, HNI / NII 64.95x and Retail 17.15x.
IPO GMP started at Rs 210 on Day 1 and moved to Rs 130 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.