Supriya Lifescience IPO opens today: Apply for big listing gain with long-term view, says Anil Singhvi
The company has fixed a price band of Rs 265-274 per share for its Rs 700-crore initial share-sale.
Supriya Lifescience Ltd initial public offer (IPO) is all set to open from Thursday, December 16. The company has fixed a price band of Rs 265-274 per share for its Rs 700-crore initial share-sale. The three-day initial public offering (IPO) will close on December 20.
The bidding for anchor investors was scheduled for December 15 and Supriya Lifesciences Ltd. on Wednesday said that it raised Rs 315 crore from anchor investors, ahead of the launch of its initial public offering (IPO).
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What should Investors do?
Zee Business Managing Editor Anil Singhvi said the IPO has strong promoters' background, while the company boasts of impressive financial track record as well.
"This company has mixture of both experience and energy at the same time. The management strikes balance cutting across generations. The company has good balance sheet as margins and profitability are improving on regular basis," she said.
Singhvi said the most important thing is that the IPO of the manufacturers and supplier of active pharmaceutical ingredients (APIs) comes at an attractive valuation.
"Apply for big listing gain with long-term objective. This is one such IPO that can double investors' money on the listing day as the management has made way for listing gain. They have kept the valuations cheaper," said Zee Business Managing Editor.
He said if we talk of negatives, there is not much but just that it is a small size company.
The company has cut the OFS (offer-for-sale) size to Rs 500 crore from Rs 1,000 crore earlier.
The IPO comprises fresh issue of equity shares worth Rs 200 crore and an offer-for-sale of up to Rs 500 crore by its promoter Satish Waman Wagh.
Currently, the promoter holds 99.26 per cent stake in the company and the promoter group owns 0.72 per cent shareholding in the firm.
Proceeds from the fresh issue will be used for funding capital expenditure requirements, repaying debt and general corporate purposes.
About 75 per cent of the issue size has been 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.
Supriya Lifescience is one of the key Indian manufacturers and suppliers of active pharmaceutical ingredients (APIs) with a focus on research and development.
Supriya Lifescience IPO Timeline
Application start date: December 16, 2021
Application end date: December 20, 2021
Allotment begins: December 23, 2021
Refund initiation date: December 24, 2021
Allotment date: December 27, 2021
Listing date: December 28, 2021
Dates as per Upstox
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