Supriya Lifescience IPO subscribed 71.51 times on final day; RIIs portion was subscribed 56.01 times

The Rs 700-crore initial public offering (IPO) of Supriya Lifescience Limited, a manufacturer and supplier of Active Pharmaceutical Ingredients (API), closed with 71.51 times subscription on Monday. Investors placed bids for 1,03,89,66,318 equity shares against the IPO sizeof 1,45,28,299 equity shares.

The Qualified Institutional Buyers (QIBs) portion was subscribed 31.83 times. QIBs placed orders for 25,22,34,270 equity shares against a portion of 79,24,527 equity shares reserved for them. The Non-Institutional Investors (NIIs) was subscribed 161.22 times as they placed bids for 63,87,80,418 equity shares against 39,62,263. The Retail Individual Investors (RIIs) portion was subscribed 56.01 times. Retail investors placed bids for 14,79,51,630 equity shares against 26,41,509 shares reserved for them.

Supriya Lifescience Limited's initial public offering (IPO) was open for subscription between December 16-20, 2021. The offer price has been fixed at Rs 265-274 per equity share of Rs 2 each. The company had plans to raise up to Rs 700 crore through this public offer. The issue comprises a fresh issue of up to Rs 200 crore and an offer for sale (OFS) of upto Rs 500 crore by promoter Satish Waman Wagh.

The net proceeds from the fresh issue will be used to meet capital expenditure requirements to the tune of Rs 92.3 crore, and repay debts of about Rs 60 crore, besides other general corporate purposes.

ICICI Securities Limited and Axis Capital Limited have been appointed as the Book Running Lead Manager of the issue while Link Intime India Private Limited is the registrar to the issue. Shares will be listed at both BSE and NSE.

Supriya Lifescience Limited is one of the key Indian manufacturers and suppliers of active pharmaceutical ingredients ("APIs"), with a focus on research and development. As of October 31, 2021, it had niche product offerings of 38 APIs focused on diverse therapeutic segments such as antihistamine, analgesic, anaesthetic, vitamin, anti-asthmatic and anti-allergic. The company has consistently been the largest exporter of Chlorpheniramine Maleate and Ketamine Hydrochloride from India, contributing to 45-50 per cent and 60-65 per cent, respectively, of the API exports from India, between Fiscal 2017 and 2021.