Valiant Laboratories IPO
Valiant Laboratories Limited (VALIANTLAB) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 06 October 2023.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +13.3% (likely range +13% to +45%), day's high +23.4%, chance of a gain 97%. Actual: +15.8% at the open, +21.6% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 21,78,030 | 4,53,61,155 | 20.8x | |
| NII (HNI) total | 16,33,500 | 12,02,87,475 | 73.6x | |
| Big NII (above ₹10 lakh) | 10,88,999 | 8,56,36,635 | 78.6x | |
| Small NII (₹2-10 lakh) | 5,44,501 | 3,46,50,840 | 63.6x | |
| Retail | 38,11,500 | 6,11,98,200 | 16.1x | |
| Total | 76,23,030 | 22,68,46,830 | 29.8x |
Bids on NSE and BSE together, as published by NSE, as of 03 Oct 2023, 07:00 PM. Shares offered exclude the anchor portion. 23% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Valiant Laboratories's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Neogen ChemicalsApr 2019 | 30.5x | 114x | 16.1x | 41.2x | ₹133 Cr | +16.7% | +22.6% |
| Udayshivakumar InfraMar 2023 | 40.5x | 60.4x | 14.1x | 30.6x | ₹80.5 Cr | -14.3% | -10.0% |
| Dharmaj Crop GuardNov 2022 | 48.2x | 52.3x | 21.5x | 35.5x | ₹270 Cr | +12.3% | +17.7% |
| Shankara Building ProductsMar 2017 | 51.6x | 90.7x | 15.3x | 41.9x | ₹349 Cr | +20.7% | +38.3% |
| Pyramid TechnoplastAug 2023 | 9.94x | 32.2x | 14.7x | 18.3x | ₹153 Cr | +12.7% | +13.2% |
| India PesticidesJun 2021 | 42.9x | 51.9x | 11.3x | 29.0x | ₹817 Cr | +18.2% | +24.3% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Unistone Capital | 13 | +47.7% | 100% |
Offer documents (NSE)
Frequently asked
What is the Valiant Laboratories IPO price band and lot size? ₹133–140 per share, with a lot of 105 shares, so the smallest retail bid is ₹14,700.
How many times has it been subscribed? 29.8x overall: QIB 20.8x, NII 73.6x, retail 16.1x.
How did it list? It opened at ₹162, +15.8% against the issue price of ₹140, and closed its first day +21.6%.
