Supriya Lifescience IPO Subscription Status Day 2: Offer filled 5.7 times; retail portion booked 25.38 times

Supriya Lifescience, one of the key Indian manufacturers and suppliers of active pharmaceutical ingredients (APIs), initial public offer (IPO) was subscribed 5.7 times on Friday till 5:00 pm.  The issue saw bidding for as many as 8,27,05,698 against 1,45,28,299 shares on offer on Day 2.  

Like most of the IPOs, retail investors were leading the subscription in this issue as well. The RIIs booked the issue 25.38 times on Friday. The Non-Institutional Investors subscribed the issue 2.9 times, however, the QIBs psotion booked 0.53 times in the IPO that will close on Monday, December 20, 2021.    

Supriya Lifescience Initial IPO was booked 2.33 times at 5 on Thursday, as per BSE data.  

The manufacturers and suppliers of active pharmaceutical ingredients (APIs), Supriya Lifescience, has fixed a price band of Rs 265-274 per share for its Rs 700-crore initial share-sale.  

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The bidding for anchor investors on December 15 already saw Supriya Lifescience mopping up Rs 315 crore from them.    

The company 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 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.    

"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 kept room for listing gain. They have kept the valuations cheaper," Zee Business Managing Editor Anil Singhvi had said on Thursday.  

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, 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.