22 Dec , 2021 By : Kanchan Joshi
The finalization of basis of share allotment of Supriya Lifescience IPO is expected to take place on Thursday, December 23, 2021. The three-day initial public offering (IPO) of Supriya Lifescience Limited was subscribed 71.51 times on the last day of share sale on Monday, December 20. The price range for the offer was fixed at Rs265-274 per share.
The initial share sale received bids for 1,03,89,57,138 shares against 1,45,28,299 shares on offer. The category for non-institutional investors was subscribed 161.22 times while that for Retail Individual Investors (RIIs) by 56.01 times and the Qualified Institutional Buyers' (QIBs) quota by 31.83 times.
According to market observers, Supriya Lifescience shares have been commanding Rs85 premium (GMP) in the grey market today, a decline from yesterday's premium of Rs112. The company's shares are expected to list next week on Tuesday, December 28 on the leading stock exchanges NSE and BSE.
The initial share sale, which had a fresh issue of up to Rs200 crore and an offer for sale (OFS) of up to Rs500 crore, was fully subscribed within a few hours of opening for subscription on December 16.
Supriya Lifescience Ltd raised Rs315 crore from anchor investors ahead of its IPO rollout. BNP Paribas Arbitrage, Societe Generale, Reliance General Insurance Company, Aditya Birla Sun Life Insurance Company, Kuber India Fund, Saint Capital Fund and Nippon India Mutual Fund are among the anchor investors.
Supriya Lifescience is one of the key Indian manufacturers and suppliers of active pharmaceutical ingredients, with a focus on research and development. The proceeds from the fresh issue will be used for funding capital expenditure requirements, debt repayment, and general corporate purposes.
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