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Supriya Lifescience Subscribed 1.59 Times On First Day Of Bidding


New Delhi: The initial public offering (IPO) of Supriya Lifescience, an active pharmaceutical ingredients (API) manufacturer, received a strong response from investors as it subscribed 1.59 times so far, on Thursday — the first day of bidding.

The company received bids for 2.30 crore lakh equity shares against the offer size of 1.45 crore equity shares.

Retail individual investors’ portion was oversubscribed 6.93 times, and non-institutional investors’ category was subscribed 0.40 times. Qualified institutional buyers are yet to put in their bids for the offer.

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.

The public issue will fetch Supriya Lifescience Rs 700 crore, of which Rs 315 crore has already been raised from anchor investors on December 15, at the upper price band of Rs 274 per equity share.

The IPO comprises 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.

Currently, the promoter holds 99.26 per cent stake in the company and promoter group owns 0.72 per cent.

Supriya Lifescience focuses on research and development (R&D) and has niche product offerings of 38 APIs focused on diverse therapeutic segments such as antihistamine, analgesic, and anaesthetic, vitamin, anti-asthmatic and antiallergic.

The company’s 77.5 percent of revenue comes from the export markets, and its key markets are USA, Europe, China, and India.


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