Valiant Laboratories IPO: Valiant Laboratories IPO opened for public subscription today as on Wednesday, September 27, 2023, and will close on Tuesday, October 3. The bidding for anchor investors concluded on Tuesday, wherein the company collected Rs 45.74 Crore from the Anchor investors ahead of the public issue. The price band for its public issue at Rs 133-140 per equity share of face value Rs 10 each. At the upper end of the price band, the company’s promoters and shareholders seek to raise Rs 152.46 crore from the IPO. Ahead of the public issue, Valiant Laboratories shares’ GMP remained unchanged at Rs 140, same as the upper end of the share price on offer.
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The IPO comprises entirely a fresh issue of 10,890,000 equity shares aggregating up to Rs 152.46 crore. The minimum lot size for the IPO is 105 shares, and the amount of investment required by retail investors is Rs 14,700.
The company intends to use the net proceeds from the IPO to invest in its wholly-owned subsidiary, Valiant Advanced Sciences Private (VASPL), for partially financing its capital expenditure requirements related to the establishment of a manufacturing facility for specialty chemicals at Saykha Industrial Area, Bharuch, Gujarat (the Proposed Facility). Additionally, the funds will be utilized to invest in VASPL to meet its working capital needs and for general corporate purposes.
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Valiant Laboratories’ revenue from operations stood at Rs 3,339.10 million in FY 2023 as compared to Rs 2,915.23 million in 2022.
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Should you apply for the Valiant Laboratories IPO?
Stoxbox recommends subscribe
“The company has a track record of sustained revenue growth, growing at a CAGR of 35.3% during FY21-23. With strong operational efficiency, Valiant Laboratories has demonstrated high ROCE, positive operating cash flows, strong balance sheet, pursued growth opportunities and better managed unanticipated cash flow variations, which will drive the company’s performance going ahead. On the upper price band, the issue is valued at a P/E of 15.7x based on FY2023 earnings, which is fairly valued compared to its peers. We, therefore, recommend an SUBSCRIBE rating for the issue.”
(The recommendations in this story are by the respective research analysts and brokerage firms. FinancialExpress.com does not bear any responsibility for their investment advice. Capital markets investments are subject to rules and regulations. Please consult your investment advisor before investing.)
