The initial public offer (IPO) of Valiant Laboratories, which opened on September 27, was fully subscribed on the third day of the bidding process. The overall subscription stood at 2.19 times, led by strong demand from retail investors.
The issue closes on October 3.
The retail category was subscribed 3.14 times, and the NII part was booked 1.52 times. The QIB portion was the least subscribed at 1.04 times.
According to market sources, the company's shares are commanding a premium of Rs 10 in the unlisted market.
About 50% of the offer is set aside for qualified institutional buyers, 15% is reserved for non-institutional investors and 35% for retail investors.
Net proceeds from the issue will be utilised towards part-financing its capex, funding working capital requirements and other general corporate purposes.
Valiant Labs is an active pharmaceutical ingredient (API/bulk drug manufacturing company, with a focus on producing Paracetamol. APIs serve as raw materials for manufacturing finished dosage forms or formulations.
The public offer of Plaza Wires opened for public subscription on September 29. The issue was fully subscribed on Day 1 on strong retail interest.
The IPO closes on October 4.
The IPO comprises fresh equity issue of 1.32 crore, aggregating up to Rs 71.2 crore. The company is offering its shares at Rs 51-54 apiece.
Investors can bid for a minimum of 277 shares in one lot and in multiples thereafter.
About 75% of the offer is set aside for qualified institutional buyers, 15% is reserved for non-institutional investors and 10% for retail investors.
Plaza Wires is engaged in the business of manufacturing and selling of wires, and selling and marketing of LT aluminium cables and fast moving electrical goods under its flagship brand "Plaza Cables".
As many as 12 IPOs in the SME segment are available for public subscription. These issues are Goyal Salt, Sunita Tools, Canarys Automations, Oneclick Logistics, Vinyas Innovative, Kontor Space, E Factor Experiences, Vivaa Tradecom, Karnika Industries, Plada Infotech, Sharp Chucks and Vishnu Priya Projects.
While IPOs of Goyal Salt, Sunita Tools, Canarys Automations, Oneclick Logistics, Vinyas Innovative, Kontor Space and E Factor Experiences close on October 3, Viva Tradecom issue closes on October 4.
Meanwhile, the public offers of Karnika Industries, Plada Infotech, Sharp Chucks and Vishnu Priya Projects will end on October 5.
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