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Market momentum, strong IPO subscription lift Supriya Lifescience, stock closes 43% higher on debut

Over 23.5 million shares of the manufacturer of active pharmaceutical ingredients changed hands on the NSE

December 28, 2021 / 05:41 PM IST
Supriya Lifescience IPO

Supriya Lifescience IPO

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Supriya Lifescience made a strong debut on the stock exchanges, maintained a robust momentum throughout its listing day, and closed 43 percent higher than its initial public offering price, backed by positive market sentiment and healthy IPO subscription figures.

The stock opened at the day’s high of Rs 425 on the BSE on December 28, largely meeting analyst expectations, a gain of 55 percent from its issue price of Rs 274 per share. It fell to an intraday low of Rs 383.15 but still ended the day with a 43 percent gain at Rs 390.35.

It touched an intraday high of Rs 421 and low of Rs 383.20 on the National Stock Exchange, before closing with a gain of 43 percent at Rs 390.85.

Over 23.5 million shares of Supriya Lifescience traded on the NSE and more than 1.44 million shares changed hands on the BSE.