Innova Captab Limited

Innova Captab Limited is an integrated pharmaceutical company incorporated in January 2005, active across the pharmaceutical value chain including research and development, manufacturing, marketing, distribution and exports. The company operates through three segments: contract development and manufacturing services for other pharmaceutical companies, a domestic branded generics business, and an international branded generics business. Its product portfolio spans tablets, capsules, dry syrups, dry powder injections, ointments and liquid formulations, manufactured at its facility in Baddi. The company counts several large Indian pharmaceutical companies among its contract manufacturing clients, including Cipla, Glenmark Pharmaceuticals, Wockhardt and Lupin. As of October 2023, it held around 200 active product registrations, with roughly 20 more pending renewal with international regulatory authorities, reflecting a meaningful export and international generics footprint alongside its domestic business. Within the Indian formulation CDMO (contract development and manufacturing organisation) space, Innova Captab ranked among the leading players by fiscal 2022 operating revenue and was noted for comparatively strong operating margins and return on capital employed against peers in the same segment, pointing to a business model built on scale, diversified end-markets and a long-standing outsourced-manufacturing relationship with major branded pharma companies.

Ahead of the issue opening, the company raised about Rs 171 crore from anchor investors through allocation of roughly 3.82 million equity shares at the cap price of Rs 448 per share.