Supriya Lifesciences Ltd. today said that it has raised 315 crore from anchor investors ahead of the launch of its initial public offering (IPO).
Trading members of the Exchange are hereby informed that in the Public Issue of Supriya Lifescience Limited, under the share of Anchor Investors (AI), 1,14,96,351 equity shares have been subscribed today. 274/- per equity share,” the company said, adding that the transaction is approx. 315 crores.
Supriya Lifescience is one of the leading Indian manufacturers and suppliers of Active Pharmaceutical Ingredients (APIs), focusing on R&D.
BNP Paribas Arbitrage, Societe Generale, Reliance General Insurance Company, Aditya Birla Sun Life Insurance Company, Kuber India Fund, Cent Capital Fund, Dovetail India Fund, Kosian Emkay Best Idea Sub-Trust, Malabar India Fund and Nippon Life India Trustee Ltd. among anchor investors.
Out of the total allocation of 1,14,96,351 shares to anchor investors, 20,07,342 shares i.e. 17.46 per cent of the total allocation was allotted to a domestic mutual fund – Nippon Life India Trustee Limited.
The IPO of Supriya Lifesciences will open for bidding on December 16, 2021. The three-day IPO will conclude on December 20.
The price band of the offer has been fixed 265 to 274 per equity share. Bidding can be made for a minimum of 54 equity shares and thereafter in multiples of 54 equity shares.
The company plans to raise funds overall 700 crores. Supriya Lifescience’s IPO includes fresh issue of equity shares of up to 200 crore and offer for sale overall 500 crore by its promoter Satish Waman Wagh.
Presently, the promoter holds 99.26 per cent and the promoter group holds 0.72 per cent in the company.
The proceeds from the fresh issue will be used for financing capital expenditure requirements, repayment of debt and for general corporate purposes.
About 75 per cent of the issue size is reserved for Qualified Institutional Buyers (QIBs), 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors.
As of October 31, 2021, the company had product offerings of 38 APIs focused on diverse therapeutic segments such as Antihistamine, Analgesic, Anesthetic, Vitamin, Anti-Asthma and Anti-Allergy.
ICICI Securities and Axis Capital are the book running lead managers of the public issue.
with PTI input
Read also: ₹265- 274 per share”>Supriya Lifesciences IPO to open this week, price band 265- 274 per share
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