Supriya Lifescience IPO closes with over 71x subscriptions

Mumbai: The ₹700 crore initial public offering of pharmaceutical ingredients supplier Supriya Lifescience was subscribed 71.47 times on Monday, the final day of bidding. The issue received bids for 103.83 crore shares against the 1.45 crore equity shares on offer.

The non-institutional investor category was subscribed 161.22 times, while the portion set aside for qualified institutional investors was subscribed 31.83 times. Retail investors bid for 56 times the shares reserved for them.

Supriya Lifescience's public issue consisted of a fresh issue of ₹200 crore and an offer for sale of ₹500 crore. The fresh issue money will get utilised for working capital requirements and repaying of debt. Most of the analysts recommended subscribing to the issue citing reasonable valuations, market leadership, and growth prospects for the company.


The company last week raised ₹315 crore from the anchor investors by allotting 1.15 crore shares at ₹274 per share.

Some of the anchor investors include Nippon Life, Kuber India Fund, Malabar India Fund, Abakkus, Reliance General Insurance, and BNP Paribas.

Mumbai-based Supriya Lifescience is a manufacturer and supplier of active pharmaceutical ingredients (APIs) used in medicines, with a strong focus on research and development.