Valiant Organics Ltd's subsidiary Valiant Laboratories Ltd files DRHP with SEBI for IPO

Valiant Organics Limited's material subsidiary namely, Valiant Laboratories Limited ("VLL") has filed a draft red herring prospectus dated June 05, 2023 with the Securities and Exchange Board of India ("SEBI") in relation to its proposed Initial Public Offering ("the IPO") by way of fresh issue of up to 11,556,000 Equity Shares ("the Issue") for listing on BSE Limited ("BSE") and National Stock Exchange of India Limited ("NSE").

VLL is an Active Pharmaceutical Ingredient / Bulk Drug ("API") manufacturing Company having focus on manufacturing of Paracetamol.

The proposed listing and Issue price of Equity Shares are subject to many factors including but not limited to regulatory approvals, book building process under Indian regulations, external factors and prevailing market conditions. Shareholders and potential Investors are advised to exercise caution before taking an investment decision in the Issue.

Shares of Valiant Organics Limited was last trading in BSE at Rs. 612.30 as compared to the previous close of Rs. 603.80. The total number of shares traded during the day was 14805 in over 1062 trades.

The stock hit an intraday high of Rs. 619.95 and intraday low of 597.50. The net turnover during the day was Rs. 9060692.00.

Source : Equity Bulls

Keywords

ValiantOrganics INE565V01010 ValiantLaboratories DRHP SEBI IPO FundRaising Listing