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Valiant Laboratories IPO: Pharmaceutical company Valeant Laboratories has announced its IPO on September 22 at Rs. 133-140 fixed the issue price. Let us tell you that the offer will open for subscription on September 27. Company through IPO at high price band Rs. 152.46 crore is planned to be collected. The offer involves a fresh issue of only 1.09 crore equity shares by the company, while there are no shares for sale in the IPO.
How many shares in one lot: A lot has 105 equity shares. This means that retail investors have to pay Rs. 14,700 (105 shares) will be spent. At the same time, their maximum investment in the offer is Rs. 1,91,100, i.e. investment for 1365 shares. The company will open the anchor book of the IPO for one day on September 26, while the offer will close on October 3.
Scheme for Gujarat: It is going to set up a manufacturing plant for specialty chemicals owned by its subsidiary Valiant Advanced Sciences in Bharuch, Gujarat. This expenditure will be financed by the money raised from the IPO.
Who are the promoters of the company: The company is owned by promoters including Dhanvallabh Ventures LLP, which holds 62.5 per cent stake. Promoters Shantilal Shivji Vora and Santosh Shantilal Vora hold 10.01 per cent stake in the company. Valeant Organics, a BSE and NSE listed entity, is the promoter of Dhanvallabh Ventures LLP with 73.15 per cent stake.