Supriya Lifescience IPO Opens On December 16 At Price Band Of Rs 265-274 Per Share
The three-day IPO will conclude on December 20. The bidding for anchor investors will open on December 15
New Delhi: Supriya Lifescience Ltd has fixed a price band of Rs 265-274 apiece for its Rs 700-crore initial share-sale, which will open for public subscription on December 16.
According to a report in PTI, the three-day initial public offering (IPO) will conclude on December 20. The bidding for anchor investors will open on December 15, according to the company.
The company has cut the OFS (offer-for-sale) size to Rs 500 crore, from Rs 1,000 crore earlier.
The IPO comprises fresh issue of equity shares worth Rs 200 crore and an offer-for-sale of up to Rs 500 crore by its promoter Satish Waman Wagh.
Currently, the promoter holds 99.26 per cent stake in the company and the promoter group owns 0.72 per cent shareholding in the firm.
Proceeds from the fresh issue will be used for funding capital expenditure requirements, repaying debt and general corporate purposes.
About 75 per cent of the issue size has been reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors.
Investors can bid for a minimum of 54 equity shares and in multiples thereof.
Supriya Lifescience is one of the key Indian manufacturers and suppliers of active pharmaceutical ingredients (APIs), with a focus on research and development.
As of October 31, 2021, the company had product offerings of 38 APIs focused on diverse therapeutic segments such as antihistamine, analgesic, anaesthetic, vitamin, anti-asthmatic and anti-allergic.
From April 1, 2020 until October 31 2021, the company's products were exported to 86 countries to 1,296 customers including 346 distributors.
ICICI Securities and Axis Capital are the book running lead managers to the public issue.
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