Read on the application
Valiant Laboratories IPO: Valiant Organics’ IPO opens for investors on September 27. The company plans to issue 1.08 crore new shares through the IPO. The issue will close on October 3, 2023. Valiant Laboratories filed a red herring prospectus (RHP) document with market regulator SEBI on September 18. For this, the bidding period of Anchor Investor will open on September 26.
What are the details?
Valeant Laboratories’ IPO comes 7 years after the launch of chemical manufacturing company Valeant Organics. In 2016, Valeant Organics raised Rs. It debuted at an issue price of 220. After four years of strong performance, the company’s shares got an opportunity to trade on the main BSE exchange. Valeant Laboratories’ IPO was approved by the company’s board on January 30 this year. Based on the draft IPO papers submitted by the company to SEBI, the promoter entity holds 82.25 per cent stake in Valeant Laboratories.
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Company business
Valeant Laboratories is an active pharmaceutical ingredient (API)/bulk drug manufacturing company. Its primary focus is on the production of paracetamol. Bulk drugs and APIs serve as raw materials for manufacturing finished dosage forms or formulations. The company was established in 1980 as a partnership firm under the name M/s Bharat Chemicals and started manufacturing paracetamol by the end of 1982. According to DRHP, Valeant Laboratories plans to use the funds raised from its IPO to invest in its wholly-owned subsidiary Valeant Advanced Sciences Pvt Ltd.
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