Innova Captab IPO Day 2: Check subscription status here

22 Dec 2023 , 12:43 PM

The Rs 570 crore initial public offer (IPO) of Innova Captab was subscribed 1.41 times on day 1. On day 2 by 12.15 PM, the company has received bids for 2,00,90,466 equity shares out of 90,78,010 shares available for subscription, i.e., 2.21 times. Click here to subscribe the IPO.

The retail portion of the IPO was oversubscribed by 3.37 times, the NII portion by 1.67 times, and the QIB portion by 62% times. 

Ahead of the IPO opening, the company has also raised Rs 171 crore through anchor investors. Innova Captab has allocated 38,16,963 equity shares to anchor investors at a price of Rs 448 per share.

The pharmaceutical company aims to use net proceeds from the IPO towards repayment of loan, investment in subsidiary, funding working capital requirements and other general corporate purposes.