Valiant Laboratories, an active pharmaceutical ingredient (API) and bulk drug manufacturer renowned for its specialization in Paracetamol, has announced its intention to raise Rs 152 crore through an initial public offering (IPO). The company's IPO, priced between Rs 133-140 per share, will involve a fresh equity issue of Rs 1.08 crore shares. This move was disclosed on Wednesday.
The IPO is being managed by Unistone Capital, acting as the book-running lead for the issue. It is being recommended as a medium-to-long-term investment by Avinash Gorakshakar from Profitmart Securities.
The decision to go public follows a successful fiscal year for Valiant Laboratories. In the fiscal year 2023, the company reported robust financial performance with revenues of Rs 339 crore and a net profit of Rs 28.9 crore.
This fundraising effort through the IPO is seen as a strategic move to bolster the company's growth and expansion in the pharmaceutical industry. Valiant Laboratories' specialization in Paracetamol, a pain treatment recommended by the World Health Organization, positions it well in the market amidst increasing demand for effective pain management solutions.
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