27 Dec , 2021 By : Kanchan Joshi
The three-day initial public offering (IPO) of Supriya Lifescience Limited was subscribed 71.51 times on the last day of share sale that concluded on December 20. The finalization of basis of share allotment of Supriya Lifescience IPO was completed last week and the company's shares are expected to list this week on Tuesday, December 28 on the leading stock exchanges NSE and BSE.
According to market observers, Supriya Lifescience shares premium (GMP) has surged to Rs150 in the grey market today, as compared to around Rs135 in the previous sessions. The grey market is an unofficial platform, wherein trading starts after the announcement of IPO price band till the listing of shares.
Supriya Lifescience's initial share sale had a fresh issue of up to Rs200 crore and an offer for sale of up to Rs500 crore. It had a price range of Rs265-274 per share. The company had raised Rs315 crore from anchor investors ahead of its IPO.
The issue was fully subscribed within a few hours on first day of subscription that opened on December 16 on the back of a strong response from retail investors. The proceeds from the fresh issue will be used for funding capital expenditure requirements, debt repayment, and general corporate purposes.
Supriya Lifescience is one of the key Indian manufacturers and suppliers of active pharmaceutical ingredients, with a focus on research and development. As of October 31, 2021, the company had product offerings of 38 APIs focused on diverse therapeutic segments such as antihistamine, analgesic, anaesthetic, vitamin, anti-asthmatic and anti-allergic.
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