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Valiant Laboratories’ shares made a robust debut on the National Stock Exchange (NSE) on Friday, listing at Rs 162.15, marking a 15.8% premium over its issue price of Rs 140. The initial public offering (IPO) that led to this listing was highly successful, raising Rs 152 crore.
The proceeds from the IPO are earmarked for the construction of a new specialty chemicals facility in Gujarat. The facility, owned by Valiant Advanced Synthesis Pvt Ltd (VASPL), will focus on the production of paracetamol.
Despite registering impressive financial performance in FY23 with strong return ratios and a revenue growth of 14.5%, analysts have flagged potential risks.
This development follows Valiant Laboratories’ pursuit of expanding its operations while managing potential risks associated with its business model.
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