The three-day initial public offering (IPO) of Supriya Lifescience Limited was subscribed 71.51 times on the last day of share sale on Monday. The initial share sale received bids for 1,03,89,57,138 shares against 1,45,28,299 shares on offer. The price range for the issue was fixed at ₹265-274 per share.
The finalization of basis of share allotment of Supriya Lifescience IPO is expected to take place on Thursday, December 23, 2021 and if allotted, then the credit of shares to demat account of bidders will be done on December 27. The registrar for this IPO is Link Intime India Private Ltd, therefore the allotment application can be checked on its website here or on the BSE website here.
The initial share sale had a fresh issue of up to ₹200 crore and an offer for sale of up to ₹500 crore. The company had raised ₹315 crore from anchor investors ahead of its IPO.
According to market observers, Supriya Lifescience shares have been commanding ₹112 premium (GMP) in the grey market today. The company's shares are expected to list next week on Tuesday, December 28 on the leading stock exchanges NSE and BSE.
Supriya Lifescience is one of the key Indian manufacturers and suppliers of active pharmaceutical ingredients, 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.
The issue was fully subscribed within a few hours on first day of subscription that opened on December 16 on the back of a strong response from retail investors. The proceeds from the fresh issue will be used for funding capital expenditure requirements, debt repayment, and general corporate purposes.
