Supriya Lifesciences subscribed 2.33x on the first day of IPO issue
Supriya Lifesciences was subscribed 2.33x on Thursday, the first day of its initial public offering (IPO).
The public issue retail category was subscribed 11.84 times and the non-institutional investors category 0.66 times.
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.
The public offering, with a price band of Rs 265-274 per share, will end on December 20. Investors can bid in a minimum of 54 equity shares and multiples thereof.
Supriya Lifesciences has raised Rs 315 crore from anchor investors. BNP Paribas Arbitrage, Societe Generale, Reliance General Insurance Company, Aditya Birla Sun Life Insurance Company, Kuber India Fund, Cent Capital Fund and Nippon India Mutual Fund are among the anchor investors.
The IPO includes a fresh issue of equity shares worth Rs 200 crore and an offer for sale (OFS) of up to Rs 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 purpose.
Supriya Lifescience is one of the leading Indian manufacturers and suppliers of Active Pharmaceuticals Ingredients (APIs), focusing on R&D.
ICICI Securities and Axis Capital are the book running lead managers of the public issue.
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