Innova Captab Limited’s Initial Public Offering to open on Thursday, sets price band at ₹426 to ₹448 per Equity Share

The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Thursday, December 21, 2023, for subscription and close on Tuesday, December 26, 2023. Investors can bid for a minimum of 33 Equity Shares and in multiples of 33 Equity Shares thereafter.

The Offer of Equity Shares with a face value of ₹10 consists of a fresh issue of Equity Shares worth up to ₹ 3,200.00 million and an Offer for Sale (OFS) up to 5,580,357 Equity Shares, which comprises of up to 1,953,125 Equity Shares by Manoj Kumar Lohariwala, up to 1,953,125 Equity Shares by Vinay Kumar Lohariwala (Together with Manoj Kumar Lohariwala, the “Promoter Selling Shareholders”) and up to 1,674,107 Equity Shares by Gian Parkash Aggarwal (“the “Other Selling Shareholder” and together with the Promoter Selling Shareholders, the “Selling Shareholders”, and such offer for sale of Equity Shares by the Selling Shareholders, the “Offer for Sale “).

For the three months ended June 30, 2023, as per its Restated Consolidated Financial Information revenue from operations stood at ₹ 2,332.43 million and profit for the three months ended June 30, 2023 stood at  ₹ 175.93 million.

The Offer is being made through the Book Building Process, wherein not more than 50% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers, not less than 15% of the Offer shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders.