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Indian paracetamol maker Valiant Laboratories lists at 16 percent premium
Bengaluru: Shares of Indian pharmaceutical company Valiant Laboratories rose 15.8% in their trading debut on Friday, valuing the company at 5.28 billion rupees ($63.5 million).The initial public offering of the Mumbai-based maker of paracetamol tablets was oversubscribed 29.8 times, with retail investors bidding 16 times and high net-worth investors 73.6 times.The offering had fresh issue...
Bengaluru: Shares of Indian pharmaceutical company Valiant Laboratories rose 15.8% in their trading debut on Friday, valuing the company at 5.28 billion rupees ($63.5 million).
The initial public offering of the Mumbai-based maker of paracetamol tablets was oversubscribed 29.8 times, with retail investors bidding 16 times and high net-worth investors 73.6 times.
The offering had fresh issue of shares worth 1.62 billion rupees ($19.5 million) at the top end of the 133-140 rupees price range.
Valiant is involved in the business of manufacturing active pharmaceutical ingredients (API) for pain killer drug Paracetamol.
Valiant competes with larger rivals such as Granules and Glenmark Life Sciences in the API market.
Earlier this week, Indian commercial port operator JSW Infrastructure's listing saw a bumper opening with shares surging more than 32%.
Read also: Troikaa's Paracetamol IM injection 250mg/ml Exempted from price control: NPPA
Ruchika Sharma joined Medical Dialogue as an Desk Editor for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751