Drug maker Innova Captab to file for Rs.900-Cr IPO

Mumbai-based drug maker Innova Captab will file a draft red herring prospectus (DRHP) with capital markets regulator Sebi for a INR 900-crore initial public offering (IPO). The company has appointed JM Financial and ICICI Securities as bankers to the issue. The company is engaged in contract development and manufacturing of generic formulations. It has two WHO GMP certified manufacturing facilities in Baddi in Himachal Pradesh and also an R&D facility.