Innova Captab files IPO papers with SEBI
The company may consider pre-IPO placement of equity shares aggregating up to Rs 80 crore.;
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New Delhi: Pharmaceutical company Innova Captab Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The proposed IPO comprises fresh issuance of equity shares worth Rs 400 crore and an offer for sale (OFS) of 96 lakh equity shares by promoters and other shareholders, according to the draft red herring prospectus (DRHP).
As part of the OFS, Manoj Kumar Lohariwala, Vinay Kumar Lohariwala and Gian Parkash Aggarwal will sell 32 lakh shares each.
The company's business includes providing research, product development and manufacturing services to Indian pharmaceutical firms, domestic branded generics as well as international branded generics businesses. It has two manufacturing facilities in Baddi, Himachal Pradesh.
ICICI Securities Limited and JM Financial Limited have been appointed as merchant bankers to manage the company's IPO.
Read also: Macleods Pharma and 2 others get SEBI go ahead for IPOs
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