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Supriya Lifescience IPO Subscribed 71.47 On Last Day Of Issue

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Supriya Lifescience IPO Subscribed 71.47 On Last Day Of Issue

Supriya Lifescience IPO received good response from investors and was over subscribed

New Delhi:

The initial public offer of Supriya Lifescience Limited was subscribed 71.47 times on the last day of its issue on Monday.

The initial share sale received bids for 1,03,83,31,980 shares against 1,45,28,299 shares on offer, according to National stock exchange (NSE) data.

The category for non-institutional investors received 161.22 times subscription, while those for retail investors was subscribed 55.77 times and qualified institutional buyers (QIBs) 31.83 times.

The initial public offer (IPO) of Supriya Lifescience was fully subscribed within a few hours of opening for subscription on November 16 on the back of a strong response from retail investors.

The IPO had a fresh issue of up to Rs 200 crore and an offer for sale of up to Rs 500 crore. It had a price range of Rs 265-274 per share.

The proceeds from the fresh issue will be used for funding capital expenditure requirements, debt repayment, and general corporate purposes.

Supriya Lifescience is one of the key Indian manufacturers and suppliers of active pharmaceutical ingredients, with a focus on research and development.

ICICI Securities and Axis Capital were the managers to the offer.

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