Supriya Lifescience IPO: The IPO of Supriya Lifesciences, a giant company that makes API (Actyl Pharmaceutical Ingredients), will open on Thursday, December 16. The company has fixed a price band of Rs 265-274 per share for this IPO of Rs 700 crore. This IPO will be open for subscription till December 20. This IPO will open for anchor investors on December 15. Under this IPO, new shares worth Rs 200 crore will be issued. The company has cut the IPO size. Earlier, the company had proposed to sell shares worth Rs 1 thousand crore under the offer for sale (OFS) but it has been reduced to 500 crores.
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Supriya Lifescience IPO Key Details
- The Rs 700-crore IPO of API maker Supriya Lifesciences will be open on December 16 and investors will get an opportunity to invest in it till December 20.
- Under the IPO, new shares worth Rs 200 crore will be issued while promoter Satish Waman Bagh will sell shares worth Rs 500 crore under the Offer for Sale (OFS). Presently, the promoter’s stake in the company is 99.26 percent while the promoter group holds 0.72 percent in it.
- The price band for the issue has been fixed at Rs 265-274 per equity share.
- The lot size is of 54 shares i.e. according to the upper price of the price band, investors will have to invest at least Rs 14796.
- The face value of the shares is Rs 2.
- 75 per cent of the issue is reserved for Qualified Institutional Buyers (QIBs), 15 per cent for non-institutional investors and 10 per cent for retail investors.
- ICICI Securities and Axis Capital are the book running lead managers of the issue.
- The allotment of shares can be finalized on December 23, while the day for listing has been fixed for December 28.
- The money raised through the new shares will be used to meet capital expenditure requirements, pay off debt and for general corporate purposes.
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Company related details
- API manufacturer and supplier Supriya Lifesciences’ main focus 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.
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