Supriya Lifescience IPO was subscribed 71.47 times by the end of its bidding process.Supriya Lifescience shares made a strong debut on Tuesday, December 28, amid positive market sentiment.
Shares of the active pharmaceuticals ingredients (API) manufacturer opened on the BSE at Rs 425 apiece - a premium of 55.1 per cent or Rs 151 higher than the issue price of Rs 274.On the NSE, Supriya Lifescience shares were listedat Rs 421 apiece -a premium of 53.7percent.With its debut, Supriya Lifescience emerged as of the strongest listings in recent times.Supriya Lifescience's IPO was open for subscription betweenDecember 16 -December 20.
The Rs 700-crore initial public offer (IPO)was subscribed 71.47 times by the end of its bidding process.The IPO had a fresh issue of up to Rs 200 crore and an offer for sale of up to Rs 500 crore.The company soldshares in the price band of Rs 265-274 per equity share.
Thecompany raised Rs 315 crore from anchor investors ahead of its IPO.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 wereamong the anchor investors.ICICI Securities and Axis Capital werethe book running lead managers to the public issue.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 is one of the largest exporters of Salbutamol Sulphate from India in fiscal 2020-21 in terms of volume.