Valiant Laboratories End At A Premium Of 20.75% Over IPO Price

Shares of Valiant Laboratories Ltd. debuted at Rs 162.5 apiece on the National Stock Exchange, a premium of 15.82% to their IPO price of Rs 140 apiece.

On the BSE, the stock debuted at Rs 161 apiece, a 13.04% premium.

The shares ended at a premium of 20.75% over the IPO price, and gained 5% from its listing price to end at Rs 169.05 apiece, according to BSE.

The Rs 152.46 crore IPO was subscribed 29.76 times on its final day, led by institutional investors (20.83 times), non-institutional investors (73.64 times), and retail investors (16.06 times).

Valiant Laboratories Ltd., is an Indian pharmaceutical ingredient manufacturer that specialises in producing paracetamol and has seen steady revenue growth in recent years.

Unistone Capital Pvt. is the sole book-running lead manager for the issue.

Proceeds of the issue will be used to set up a manufacturing facility for speciality chemicals in Gujarat through its subsidiary, Valiant Advanced Sciences Pvt. The proceeds will also be used to meet the working capital requirements of the subsidiary company.

Valiant Laboratories is an active pharmaceutical ingredient or bulk drug manufacturing company focused on producing paracetamol, which is used in the treatment of headaches, muscle aches, arthritis, backache, toothache, cold and fever.

The pharmaceutical manufacturing firm manufactures paracetamol in various grades, such as IP, BP, EP, and USP, as per the pharmacopoeia requirements of the customers.

Their manufacturing facility is spread over an aggregate parcel of land, admeasuring about 2,000 sq. mts., with an aggregate annual total installed capacity of 9,000 MT per annum.

The paracetamol API industry grew from Rs 2,200 crore in fiscal 2017 to Rs 3,900 crore in fiscal 2023. Going ahead, the industry is expected to clock a CAGR of 5-7% between fiscal 2023 and fiscal 2027. Domestic formulation manufacturers as well as export markets are expected to drive demand.