Supriya Lifescience IPO listing: Expected to list in Rs 400-450 range against issue price of Rs 274, says Anil Singhvi

Supriya Lifescience IPO (initial public offer) is all set to debut on the exchanges on Tuesday, December 28, 2021. The initial public offer of active pharmaceutical ingredients supplier was subscribed 71.51 times on December 20, the final day of the bidding.  The issue had received bids for 103.89 crore equity shares against the offer size of 1.45 crore shares on the final day. 

Ahead of the listing on Tuesday, Zee Business Managing Editor Anil Singhvi has predicted strong listing for this public offer. "Expected to list in Rs 400-450 range against issue price of Rs 274," said Singhvi 

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Zee Business Managing Editor recommended that Investors should hold the shares with a stop loss of Rs 375 and keep trailing.  

Supriya Lifescience, had fixed a price band of Rs 265-274 per share for its Rs 700-crore initial share-sale.   

The manufacturers and suppliers of active pharmaceutical ingredients (APIs), Supriya Lifescience, plans to use the proceeds from the fresh issue for funding capital expenditure requirements, repaying debt and general corporate purposes. About 75 per cent of the issue was reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors.  Investors can bid for a minimum of 54 equity shares and in multiples thereof.     

Incorporated in March 2008, the company had product offerings of 38 APIs focused on diverse therapeutic segments such as antihistamine, analgesic, anaesthetic, vitamin, anti-asthmatic and anti-allergic, as per PTI 

From April 1, 2020 until October 31 2021, the company's products were exported to 86 countries to 1,296 customers including 346 distributors.   

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