Supriya Lifescience shares list at 55% premium to issue price

Supriya Lifescience, manufacturer of active pharmaceutical ingredients, made a strong market debut today. Shares of Supriya Lifescience listed at a premium of 55.11% at Rs 425 on BSE compared to the issue price of Rs 274.

The IPO was held from December 16 to December 21.

The company offered its shares in a price band of Rs 265-274.

Market cap of the firm stood at Rs 3,420.52 crore. Total 2.51 lakh shares of the firm changed hands amounting to a turnover of Rs 10.66 crore on BSE.

On NSE, the stock listed at Rs 421, 53.65% or Rs 147 higher to the IPO price.

Market cap of the firm rose to Rs 3,081 crore. Total 41.49 lakh shares of the firm changed hands amounting to a turnover of Rs 174.68 crore on the NSE.

The share sale was subscribed 71.51 times on the final day of bidding. The IPO received bids for 103.89 crore equity shares against the issue size of 1.45 crore equity shares on December 20.

The portion allocated for retail investors was subscribed 56.01 times and that of non-institutional investors saw 161.22 times subscription. Qualified institutional buyers (QIBs) applied for 31.83 times the portion set aside for them.

Supriya Lifescience raised Rs 700 crore through its public issue at the upper price band of Rs 274 per share.

The firm raised Rs 315 crore from 36 anchor investors. BNP Paribas Arbitrage, Societe Generale, Reliance General Insurance Company, Aditya Birla Sun Life Insurance Company, Kuber India Fund, Saint Capital Fund, Dovetail India Fund, Cohesion MK Best Ideas Sub-Trust, Malabar India Fund, and Nippon Life India Trustee Ltd were among the anchor investors.

Lot size of the IPO was 54 shares for which one would have to spend Rs 14,796. A retail-individual investor could apply for up to 13 lots or 702 shares by spending Rs 1,92,348.

The allotment of shares was finalised on December 23, 2021.

Link Intime India was the registrar to the IPO.

 Proceeds of the issue will be used for funding capital expenditure requirements of the company, repayment and/ or pre-payment, in full or part, of certain borrowings availed by the company and general corporate purposes.

Axis Capital Limited and ICICI Securities Limited were the book running lead managers to the IPO.

Supriya Lifescience is engaged in the manufacturing of active pharmaceutical ingredients (APIs).