Valiant Laboratories IPO Detail 2023
Introduction
The Valiant Laboratories will open on September 27 and close on October 3, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 152.46 crore through this public offering, consisting of 10,890,000 shares with a face value of ₹ 10 each, which will be issued at a price of ₹ 133 to ₹ 140 per share.
Valiant Laboratories Limited (“the Company”)
Valiant Laboratories Limited was incorporated in 2021. The company is an active pharmaceutical ingredient (“API”)/bulk”drug manufacturing company with a focus on the manufacturing of paracetamol.
Bulk drugs and active pharmaceutical ingredients (API) serve as raw materials for manufacturing finished dosage forms or formulations. Paracetamol (scientific name: Acetaminophen or para-hydroxyacetanilide, C8H9NO2) is one of the most commonly taken analgesics worldwide and is recommended as the first-line therapy for pain conditions by the World Health Organization (WHO).
Paracetamol has several applications, such as in the treatment of headaches, muscle aches, arthritis, backaches, toothaches, colds, and fever. They manufacture paracetamol in various grades, such as IP, BP, EP/USP, as per the pharmacopeia requirements of their customers.
Its manufacturing facility is located at Plot nos. L-13 and L-30, Tarapur Industrial Area, Boisar, Palghar, 401506, in the state of Maharashtra, India. Within its manufacturing facility, the company also has an in-house R&D infrastructure (“R&D Facility”).
Company Key Metrics
| Earning Per Share (EPS) | ₹ 8.91 per Equity Share |
| Debt to Equity Ratio | 0.59 |
| ROE | 33.73% |
| ROCE | 22.76% |
| Return on Net Worth (RoNW) | 28.86% |
Objects of the Issue,
- Investment in its wholly-owned subsidiary, Valiant Advanced Sciences Private Limited (VASPL) for part-financing its capital expenditure requirements in relation to the setting up of a manufacturing facility for specialty chemicals at Saykha Industrial Area, Bharuch, Bharuch, Gujarat (Proposed Facility).
- Investment in VASPL for funding its working capital requirements.
- General corporate purposes.
Financial Highlights (Restated)
| Particulars | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|
| Net Worth | 100.49 | 71.46 | 88.58 |
| Total Assets | 212.76 | 181.81 | 106.31 |
| Total Borrowings | 59.40 | 60.68 | 0.35 |
| Total Revenue | 338.77 | 293.47 | 183.78 |
| Profit After Tax | 29.00 | 27.50 | 30.59 |
IPO details
| Issue Type | Book Built Issue IPO |
| IPO Price | ₹ 133 to ₹ 140 per share |
| Face Value | ₹ 10 per share |
| Market Lot | 105 Shares |
| Issue Size | 10,890,000 shares (aggregating up to ₹ 152.46 crores) |
| Fresh Issue | 10,890,000 shares (aggregating up to ₹ 152.46 crores) |
| Listing At | NSE, BSE |
Shareholding Pattern
| Shareholding pre-issue | 32,560,000 |
| Shareholding post issue | 43,450,000 |
IPO Reservation
| Categories | No. of shares offered |
|---|---|
| QIB shares offered | Not more than 50% of the net offer |
| NII (HNI) shares offered | Not less than 15% of the offer |
| Retail shares offered | Not less than 35% of the offer |
GMP: Valiant Laboratories IPO
GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.
Tentative Dates: Valiant Laboratories IPO
The issue opens for subscription on September 27, 2023, and closes for subscription on October 3, 2023 (both days inclusive). The basis of allotment will be finalised on October 5, 2023, and the refunds will be initiated on October 6, 2023. In addition, the demat credits are expected to happen on October 6, 2023, and the stock will be listed on the NSE and BSE on October 9, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.
| Opening Date | September 27, 2023 |
| Closing Date | October 3, 2023 |
| Basis of Allotment | October 5, 2023 |
| Initiation of Refunds | October 6, 2023 |
| A credit of shares to Demat A/c | October 6, 2023 |
| Listing Date | October 9, 2023 |
Lot Size
The lot size of the Valiant Laboratories IPO is 105 shares. A retail-individual investor can apply for up to 13 lots, i.e. 1,365 shares of ₹ 191,100.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 105 | ₹ 14,700 |
| Retail (Maximum) | 13 | 1,365 | ₹ 191,100 |
| S-HNI (Minimum) | 14 | 1,470 | ₹ 205,800 |
| S-HNI (Maximum) | 68 | 7,140 | ₹ 999,600 |
| B-HNI (Minimum) | 69 | 7,245 | ₹ 1,014,300 |
Promoters Holdings
Shantilal Shivji Vora and Dhanvallabh Ventures LLP (DVL) are the promoter of the company.
| Pre-issue Shares Holdings | 100% |
| Post-issue Shares Holdings | 74.94% |
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP |
| Company Contact Information | Valiant Laboratories Limited 104, Udyog Kshetra,Mulund Goregaon Link Road, Mulund West, Mumbai -400080 Phone: +91 2249712001 Email: complianceofficer@valiantlabs.in Website: https://valiantlabs.in/ |
| IPO Registrar | Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: valiantlaboratories.ipo@linkintime.co.in Website: https://linkintime.co.in/mipo/ipoallotment.html |
| IPO Lead Manager(s) | Unistone Capital Pvt Ltd |
