Supriya Lifescience IPO Subscribed 2.33 Times On First Day Of Issue

The initial public offer (IPO) of Supriya Lifescience was subscribed 2.33 times on Thursday, the first day of its issue..The public issue subscribed 11.84 times in the retail category and 0.66 times in the non institutional investors category. .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 offer, with a price band of Rs 265-274 a share, will conclude on December 20. Investors can bid for a minimum of 54 equity shares and in multiples thereof..Supriya Lifescience 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, Saint Capital Fund and Nippon India Mutual Fund are among the anchor investors..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 the promoter group owns 0.72 per cent..Proceeds from the fresh issue will be used for funding capital expenditure requirements, repay debt and general corporate purpose..Supriya Lifescience is one of the key Indian manufacturers and suppliers of active pharmaceuticals ingredients (APIs), with a focus on research and development..ICICI Securities and Axis Capital are the book running lead managers to the public issue.

Supriya Lifescience IPO Subscribed 2.33 Times On First Day Of Issue

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