Supriya LifeScience’s initial public offer will open for bidding on December 16, 2021. The three-day initial public offering (IPO) will end on December 20. According to the company, the bidding for anchor investors will open on December 15.
The price band of the offer has been fixed at Rs. 265 to Rs. 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. The IPO of Supriya Lifesciences consists of a fresh issue of equity shares of up to Rs. 200 crores and the total for sale is Rs. 500 crore by its promoter Satish Waman Wagh.
Presently, the promoter holds 99.26 per cent stake in the company and the promoter group holds 0.72 per cent stake in the firm. The proceeds from the fresh issue will be used for financing capital expenditure requirements, repaying 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.
Supriya Lifescience is one of the leading Indian manufacturers and suppliers of Active Pharmaceutical Ingredients (APIs), focusing on R&D.
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.
From April 1, 2020 to October 31, 2021, the company’s products were exported to 1,296 customers in 86 countries, including 346 distributors.
ICICI Securities and Axis Capital are the book running lead managers of the public issue. (with PTI inputs)
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