Supriya Lifescience IPO was subscribed 2.33 times on the first day of its issueThe initial public deal (IPO) of Supriya Lifescience was subscribed 2.33 times on Thursday, the very first day of its issue.The public issue subscribed 11.84 times in the retail classification and 0.66 times in the non institutional investors classification.
About 75 percent of the problem size has been reserved for certified institutional purchasers (QIBs), 15 per cent for non institutional financiers and the remaining 10 percent for retail investors.The public offer, with a cost 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 Insurer, Aditya Birla Sun Life Insurance Coverage Business, Kuber India Fund, Saint Capital Fund and Nippon India Mutual Fund are amongst the anchor investors.The IPO consists of fresh problem 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 percent stake in the company and the promoter group owns 0.72 per cent.Proceeds from the fresh problem will be used for financing capital expenditure requirements, pay back financial obligation and general corporate purpose.Supriya Lifescience is among the essential Indian makers and providers of active pharmaceuticals components (APIs), with a concentrate on research and development.ICICI Securities and Axis Capital are the book running lead managers to the general public concern.