Supriya Lifescience IPO was subscribed 5.69 times on second day of issueThe initial share sale of Supriya Lifescience Limited was subscribed 5.69 times on the second day of its issue, according to subscription data on the stock exchanges.
The initial public offer (IPO) received bids for 8,27,05,698 shares against 1,45,28,299 shares on offer, as per NSE data.On Friday, the category for retail individual investor (RIIs) was subscribed 25.38 times - the highest among the three groups of investors.
The portion reserved for non-institutional investors was subscribed 2.90 times subscription, and the portion set aside for Qualified Institutional Buyers (QIBs) was subscribed 53 per cent today.The IPO comprises a fresh issue of up to Rs 200 crore and an offer-for-sale of up to Rs 500 crore.
The company is selling shares in the price band of Rs 265-274 per equity share.
On Wednesday, the company raised Rs 315 crore from anchor investors.The issue was subscribed 2.33 times on the first day of its issue.
The proceeds from the fresh issue will be used for funding capital expenditure requirements, debt repayment, and general corporate purposes.
ICICI Securities and Axis Capital are the managers to the offer.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 March, 2021, the company produces 38 APIs focused on diverse therapeutic segments such as antihistamine, analgesic, anaesthetic, vitamin, anti-asthmatic and anti-allergic.The company has been the largest exporter of Chlorpheniramine Maleate and Ketamine Hydrochloride from India between financial years 2016-2017 and 2020-2021.
The company is also one of the largest exporters of Salbutamol Sulphate from India in fiscal 2020-21 in terms of volume.