Valiant has a valaint listing
By
Ruma Dubey
about 1 year ago
A new listing today – Valiant Laboratories was listed on the BSE at Rs.161 v/s IPO price of Rs.140 and on the NSE at Rs.162.15.
The IPO was subscribed 29.76x of which HNIs portion was at 73.64x, QIBs at 20.83x and Retail investors at 16.06x.
Valiant Laboratories, wholly promoter-owned, of which, effectively 46% held by listed Valiant Organics Limited (Aarti Industries and Aarti Pharmalabs are other group companies), manufactures paracetamol API at its sole manufacturing unit, of 9,000 MTPA capacity in Maharashtra.
In our IPO Analysis, we had concluded - While there are no short term triggers, commissioning of new capacity can significantly boost financials. Hence, we recommend subscribing to the IPO, for those with a long term view.
116.55 (+1.05)