The markets in India have seen a boom in the number of IPOs being launched. In the last few months, many major companies including Paytm and Zomato have taken the IPO route to raise funds. Supriya Lifescience IPO comprises equity shares worth ₹200 crore.
The initial public offer (IPO) of Supriya Lifescience will roll out on Thursday. It is one of the key Indian suppliers of active pharmaceutical ingredients (AIPs) with a focus on research and development.
The IPO comprises fresh issue of equity shares worth ₹200 crore and an offer for sale (OFS) of up to ₹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.
A day before the launch of the IPO, the company said in a filing before the exchange that it raised ₹315 crore from anchor investors by allotting 1.15 crore shares to them at a price of ₹274 apiece.
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.
ICICI Securities and Axis Capital are the book running lead managers to the public issue.
Proceeds from the fresh issue will be used for funding capital expenditure requirements, repay debt and general corporate purpose.
The issue, with a price band of ₹265-274 apiece, will remain open for public subscription till December 20. Investors can bid for a minimum of 54 equity shares and in multiples thereof.
As of October 31, 2021, Supriya Lifescience had product offerings of 38 APIs focused on diverse therapeutic segments such as antihistamine, analgesic, anaesthetic, vitamin, anti-asthmatic and anti-allergic.
In the last one and half years, their products were exported to 86 countries.
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