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Innova Captab IPO
Innova Captab Limited
₹14,058 /33 sharesMinimum Investment
Innova Captab IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 21 Dec ‘23 - 26 Dec ‘23 | ₹14,058 | 33 | ₹426 - ₹448 |
| Issue Size | IPO Doc |
|---|---|
| 570.00Cr | RHP PDF |
Subscription rate
| Qualified Institutional Buyers | 116.73x |
| Non-Institutional Investor | 64.94x |
| Retail Individual Investor | 17.15x |
| Total | 55.26x |
About Innova Captab
Founded in
2005
Managing director
Mr. Vinay Kumar Lohariwala
Parent organisation
Innova Captab Limited
Strengths & Financials of Innova Captab
Strengths
Risks
The company has a diverse range of over 600 products across various therapeutic areas, including complex formulations like modified and sustained-release forms and tablets in capsules. This wide-ranging portfolio enables them to cater to a broad spectrum of healthcare needs.
Innova Captab emphasizes robust in-house R&D, which aids in attracting CDMO customers and growing its branded generic portfolio. They have a dedicated R&D facility, recognized by the Department of Scientific and Industrial Research, India.
The company operates state-of-the-art manufacturing facilities which are certified for Good Manufacturing Practices.
Innova Captab has expanded its international presence, exporting branded generics to numerous countries.
One of the fastest growing CDMOs in the Indian pharmaceutical formulations market, as per a CRISIL report.
In the financial year 2023, the company had 182 CDMO customers including Cipla, Glenmark Pharma, Wockhardt, Corona Remedies, Emcure Pharma, Lupin and Mankind Pharma.
According to CRISIL Research, the company ranked 3rd among its peers in terms of finished tablet and capsule manufacturing capacity in India.
Innova Captab's restated consolidated financial information lacks comparability over different periods. The pro forma condensed consolidated financial information, not prepared in accordance with generally accepted accounting principles, may change and fail to provide an accurate representation of the company's operational or financial status.
The recent acquisition of Sharon presents uncertainties for Innova Captab. They are yet to ascertain if the expected benefits of this acquisition will materialize, posing a potential risk to their business stability and financial outcomes.
Innova Captab's reliance on a few contract development and manufacturing organization customers brings risk. A reduction in these customers or inability to maintain these relationships could significantly impact their business operations and financial health.
The company has incurred substantial capital expenditure in recent years and requires significant financing for ongoing operations and planned expenditures. Any challenges in securing finance could hinder their growth and profitability.
Innova Captab’s dependence on China, China SEZ, and Hong Kong for raw materials exposes them to risks associated with the political, economic, and social conditions in these regions.
The requirement to transfer, obtain, renew, or maintain statutory and regulatory permits, licenses, and approvals for Sharon’s business poses a risk. Delays or failures in this compliance could adversely affect Innova Captab’s operations and financial condition.
Innova Captab's history of related party transactions, which may continue, raises concerns about potential conflicts of interest. A significant portion of their revenue comes from these transactions, potentially impacting shareholder interests.
Dependence on third parties for clinical trials introduces risk. Any failure to meet regulatory standards by these parties could delay regulatory approvals, adversely affecting the company’s business and financial status.
The company’s expansion plans, including the construction of a new facility in Jammu, are subject to risks like unexpected delays and cost overruns. These could impact their growth strategy and financial stability.
Innova Captab must navigate diverse international regulations for product exports, adding complexity and risk. Failure to comply with these regulations could have adverse effects on their business and financial results.
A significant portion of Innova Captab's sales are on open credit, exposing them to the risk of non-payment. An increase in bad debts or defaults by customers could impact their profitability and cash flows.
The location of their manufacturing and R&D facilities in Himachal Pradesh exposes Innova Captab to specific geographic risks like labor unrest and natural disasters, potentially disrupting operations.
Innova Captab Financials
*All values are in Rs. Cr
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Application Details of Innova Captab IPO
| Apply as | Price band | Apply upto |
|---|---|---|
| Regular | ₹426 - 448 | ₹2 Lakh |
| High Networth Individual | ₹426 - 448 | ₹2 - 5 Lakh |
For Innova Captab IPO, eligible investors can apply as Regular.