Supriya Lifescience Subscription Status Day 3: Issue booked 29 times; NIIs portion filled 62 times on final day

Supriya Lifescience initial public offer (IPO) was subscribed 29.39 times at 2.15 pm on Monday. The issue saw bidding for as many as 42,69,24,594 shares against 1,45,28,299 shares on offer on the final day.  

The Non-Institutional Investors led the subscription on the Day 3 as NIIs subscribed the issue 62.45 times. Furthermore, retail participation also picked up on Day as retail investors subscribed the issue 44.94 times, while Qualified Institutional Buyers (QIBs) category witnessed 767% subscription.  

Earlier on Day 2, 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.  The issue had received bids for 8,27,05,698 shares as against 1,45,28,299 shares on offer on Day 2.  

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Supriya Lifescience Initial IPO was booked 2.33 times the first day, as per NSE.  

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

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

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 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.    

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.