Active pharmaceuticals ingredients manufacturer Supriya Lifescience has decided to launch its maiden public offer on December 16, 2021. The offer will close on December 20.
The company will disclose its price band and lot size details on coming Monday.
The company plans to mop up Rs 700 crore through its public issue that comprises a fresh issuance of shares worth Rs 200 crore and an offer for sale of Rs 500 crore by promoter Satish Waman Wagh.
Promoter Satish Waman Wagh holds 99.98 percent equity shareholding in Supriya Lifescience.
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The company may offer shares at a discount to retail investors as per its prospectus.
The net proceeds from fresh issue will be utilised for capital expenditure requirements, repaying of debts, and general corporate purposes.
The company has niche product offerings of 38 active pharmaceuticals ingredients (APIs) focused on diverse therapeutic segments such as antihistamine, analgesic, anaesthetic, vitamin, anti-asthmatic and antiallergic, as of October 2021.
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It has consistently been the largest exporter of Chlorpheniramine Maleate and Ketamine Hydrochloride from India, contributing to 45-50 percent and 60-65 percent, respectively, of the API exports from India, between fiscal 2017 and 2021. It was among the largest exporters of Salbutamol Sulphate in India contributing to 31 percent of the API exports from India in FY21 in volume terms.
Supriya Lifescience recorded a massive 68.7 percent growth in profit at Rs 123.83 crore for the financial year FY21, compared to Rs 73.4 crore profit in previous year. Revenue during the same period jumped 23.7 percent to Rs 385.36 crore from Rs 311.64 crore.
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The company reported profit of Rs 65.96 crore on revenue of Rs 224.8 crore in the six-month period ended September 2021.
ICICI Securities and Axis Capital are the book running lead managers to the issue, while Link Intime is the registrar to the offer.
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