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Supriya Lifescience raises Rs 315 from anchor investors before IPO

Supriya Lifescience raises Rs 315 from anchor investors before IPO

Supriya Lifescience raised Rs 315 crore from neo investors

Supriya Lifescience Ltd said it had raised Rs 315 crore from anchor investors ahead of the launch of its IPO on Thursday. The company has allocated 1.15 crore of shares to fix investors at Rs 274 each, which is the upper end of the price range, totaling trade size to Rs 315 crore, according to a BSE circular.

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 fixed investors.

The IPO consists of an issue of new shares worth Rs 200 crore and an offer to sell (OFS) up to 500 crore by its promoter Satish Waman Wagh.

Currently, the promoter holds a 99.26% stake in the company and the ad group owns 0.72%. Proceeds from the new issue will be used to fund capital expenditure requirements, repay debt, and for general corporate purposes.

The publication, with a price range of Rs 265-274 per person, will be open for public sale from December 16 to 20. About 75% of the issue size has been reserved for qualified institutional buyers (QIBs), 15% is for non-institutional investors and the remaining 10% is for retail investors.

Investors can bid a minimum of 54 equity shares and in their multiples. Supriya Lifescience is one of India’s major manufacturers and suppliers of active pharmaceutical ingredients (APIs), with a focus on research and development.

As of October 31, 2021, the company offered 38 APIs that focus on diverse therapeutic segments such as antihistamines, analgesics, anesthetics, vitamins, anti-asthmatics, and antiallergics. From April 1, 2020 to October 31, 2021, their products have been exported to 86 countries to 1,296 customers including 346 distributors. ICICI Securities and Axis Capital is the leading executive book on public affairs.

https://www.ndtv.com/business/supriya-lifescience-ipo-news-supriya-lifescience-raises-rs-315-crore-from-anchor-investors-ahead-of-ipo-2653582 Supriya Lifescience raises Rs 315 from anchor investors before IPO

Emma James

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