Ahead of its listing, shares of Valiant Organics were commanding a premium Rs 20 per equity share in the grey market, suggesting a listing pop of around 15 per cent over the issue.
Valiant Labs is an active pharmaceutical ingredient (API/bulk drug manufacturing company, with a focus on producing Paracetamol. APIs serve as raw materials for manufacturing finished dosage forms or formulations.
Shares of Valiant Laboratories were locked in the buyer circuit of 5 per cent at Rs 170.25. The stock extended the overall gains to 22 per cent over the issue price.