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The company’s shares had opened at ₹161 after the IPO was oversubscribed by almost 30 times. This high demand was driven in large part by high net-worth individuals (HNIs) and retail investors who subscribed 73.64 times and 16.06 times respectively.
The successful IPO raised a total of ₹152 crore ($20.4 million), which will be invested in VASPL, a wholly-owned subsidiary of Valiant Laboratories. The funds are earmarked for the establishment of a specialty chemicals manufacturing facility in the Saykha Industrial Area, located in Bharuch, Gujarat.
Before the public offering, several anchor investors had already shown their trust in the company’s prospects. Leading Light Fund VCC — The Triumph Fund, Saint Capital Fund, Astorne Capital VCC — Arven, and Negen Undiscovered Value Fund jointly contributed ₹45.74 crore to the firm’s capital.
With this strong market debut, Valiant Laboratories solidifies its position as a key player in the pharmaceutical industry and demonstrates investor confidence in its business strategy and future expansion plans.
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