Supriya Lifescience IPO subscription status: Issue booked 5.69 times on second day

The Initial Public Offering (IPO) of Supriya Lifescience was subscribed 5.69 times on the second day of subscription. On day one, the offer was subscribed 2.33 times. The three-day initial public sale will conclude on Monday, December 20. The pharmaceutical firm, which is planning to raise Rs 700 from the issue, has set a price band of Rs 265-Rs 274 per equity share.

Of the Rs 700 crore, Rs 315 crore was raised from anchor investors on Wednesday. The issue comprises Rs 200 crore worth of fresh issue of equity shares and an Offer for Sale (OFS) of up to Rs 500 crore by promoter Satish Waman Wagh.

Supriya Lifescience IPO Subscription status

The portion reserved for the retail investors has been booked 25.38 times while the Non-Institutional investors (NIIs) bid 2.9 times. The portion set aside for Qualified Institutional Buyers (QIBs) has been subscribed 53%.

Supriya Lifescience IPO day 2: GMP, share allotment & more

• Subscription status: Subscribed 5.69 times
• Supriya Lifescience IPO price band: Rs 265-Rs 274 per share
• Share allotment date: December 23 (Tentative)
• Supriya Lifescience listing date: December 28 (Tentative) on NSE and BSE
• GMP: In the grey market, unlisted Supriya Lifescience shares were trading at a premium of Rs 280. The hefty GMP (Grey Market premium) suggests strong gain on listing on bourses- BSE and NSE.

According to the company, the proceeds from the IPO will be used for funding capital expenditure requirements, repayment of debt and general corporate purposes. Axis Capital and ICICI Securities are the managers of the offer.

Supriya Lifescience is one of the key manufacturers and suppliers of APIs (Active Pharmaceutical Ingredients) with a focus on products like anti-histamine, anti-asthmatics, anti-allergics, vitamins and anaesthetics, etc. "Our facility is spread across an area of 47000 sq.m. with delineated areas for warehouse, QA, QC, R & D, production and finished products (dedicated blocks for different therapeutic segments)," the company said.

The Mumbai-headquartered pharmaceutical firm is backed by strong Research and Development, 14 active USDMFs, eight active CEPs and worldwide compliant facilities. Dr Satish Waman Wagh is the chairman and managing director of the company, while Dr Saloni Satish Wagh, Shivani Wagh, Smita Wagh and Balasahed Gulabrao Sawant are full-time directors.

(Image: PTI/Pixabay)