According to NSE data, Supriya Lifescience’s IPO has received bids for 103.89 crore shares against 1.45 crore shares.
Supriya Lifescience IPO: The IPO of Supriya Lifesciences, a leading company that manufactures API (Active Pharmaceutical Ingredients), has received a great response from investors. It was subscribed 71.47 times on the last day of the issue on Monday. According to NSE data, this IPO has received bids for 103.89 crore shares against 1.45 crore shares.
31.83 subscriptions to QIB portions
Under this IPO, the category of non-institutional investors has got 161.22 times subscription. On the other hand, in the case of Retail Individual Investors (RII), their share has been subscribed 55.77 times and Qualified Institutional Buyers (QIB) 31.83 times. The IPO of Supriya Lifesciences was fully subscribed within a few hours of the subscription opening on Thursday. This IPO has received tremendous response from retail investors.
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IPO related details
The company wants to raise Rs 700 crore through this IPO. Under this, fresh shares worth Rs 200 crore were issued. At the same time, shares up to Rs 500 crore were sold under the Offer for Sale (OFS). For this, a price band of Rs 265-274 per share has been fixed. The company has raised Rs 315 crore from anchor investors on Wednesday. The money raised through the new shares will be used to meet capital expenditure requirements, pay off debt and for general corporate purposes. ICICI Securities and Axis Capital are the book running lead managers of the issue.
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Company related details
- The main focus of Supriya Lifesciences, a company that manufactures and supplies APIs, is on Research and Development (R&D). According to the data available till 31 October 2021, the company manufactures 38 APIs.
- From 1 April 2021 to 31 October 2021, the company’s products were exported to 1296 customers including 346 distributors in 86 countries. The company’s API business is spread across Europe, Latin America, Asia and North America.
- Talking about the financials of the company, the net profit (Profit After Tax) of the company has increased continuously. The company had a net profit of Rs 39.42 crore in the financial year 2019, which increased to Rs 73.37 crore in the next year. Talking about the last financial year, the company had a net profit of Rs 123.83 crore. In the first half of the current financial year, April-September 2021, the company made a net profit of Rs 65.96 crore.
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