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.
"Further, the paracetamol API industry is expected to clock a 5-7% CAGR between FY23 and FY27," said analysts, while suggesting investors can hold the stock for the long term if they wish to.
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.