Innova Captab Has a Modest Launch at a 2% Premium; Post Listing Strengthening

Soon after its IPO, Innova Captab gained traction and rose to Rs 502, a 12% increase over its issue price on the BSE.

Innova Captab made a subdued start on the BSE on Friday, with its shares trading barely 2% higher at Rs 456 versus the issue price of Rs 448.

The pharmaceutical company‘s shares rose 1% to Rs 452 on the National shares Exchange (NSE).

However, immediately after its listing, Innova Captab gained traction and rose to Rs 502, up 12% from its BSE issue price.

In intraday trade, it fell to Rs 452. On the NSE and BSE, around 7.3 million equity shares were traded.

The integrated pharmaceutical business Innova Captab’s first public offering was subscribed to 55.26 times.

Innova Captab Has a Modest Launch at a 2% Premium; Post Listing Strengthening