Valiant Laboratories files IPO papers

Valiant Laboratories Ltd, the subsidiary of Valiant Organics said it has filed a draft red herring prospectus (DRHP) for an initial public offering (IPO) with stock market regulator Sebi.

The proposed IPO will consist of a fresh Issue of 11,556,000 equity shares of face value of Rs 10 each.

Sources said the total IPO size would be Rs 175 - 200 crore.


Valiant intends to use the IPO proceeds for setting up manufacturing unit in Gujarat through its subsidiary to make speciality chemicals such as ketene and diketene derivative products, along with working capital requirements of the subsidiary. Ketene and diketene derivatives are used in pharmaceutical and agrochemical industries.

Formed in 1980, Valiant Laboratories is into manufacturing of active pharmaceutical ingredient (API) focused on paracetamol.

The company is promoted by Dhanvallab Ventures LLP and Shantilal Vora.
Unistone Capital is the sole book-running lead manager to the issue.