Supriya Lifescience sets IPO price band at Rs 265-274 per share

Supriya Lifescience IPO

Supriya Lifescience, an active pharmaceuticals ingredients manufacturer, has fixed the price band at Rs 265-274 per equity share for its initial public issue opening on December 16.

The offer closes on December 20. Anchor book, if any, will open for bidding on December 15.

Investors can bid for a minimum of 54 equity shares and in multiples of 54 shares thereafter. Retail investors can bid for a minimum of shares worth Rs 14,796 for one lot, and their maximum investment would be Rs 1,92,348 for 13 lots, as they are allowed to invest in the IPO up to Rs 2 lakh.

Click Here To Know All IPO Related News

The company is planning to mobilise Rs 700 crore through its public offer. The issue consists of a fresh issuance of shares worth Rs 200 crore and an offer-for-sale of Rs 500 crore by promoter Satish Waman Wagh who holds 99.98 percent equity shareholding in Supriya Lifescience.

Of the total offer size, 75 percent is reserved for qualified institutional buyers, 10 percent for retail investors, and the remaining 15 percent for non-institutional investors.

The company will utilise the proceeds from fresh issue for capital expenditure requirements, and repaying of debts, besides general corporate purposes.

Also read - Astha Jain of Hem assigned subscribe rating to Metro Brands, MapmyIndia, Medplus, Data Patterns IPOs - here is why

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.

The book running lead managers to the issue are ICICI Securities and Axis Capital.