Supriya Lifescience IPO subscribed 71.51 times on final day, QIB portion booked 31.83 times
The public issue of active pharmaceutical ingredients supplier Supriya Lifescience witnessed strong demand from investors as the offer was subscribed 71.51 times.
It received bids for 103.89 crore equity shares against the IPO size of 1.45 crore equity shares on December 20, the final day of bidding.
Incorporated in March 2008, Supriya Life has niche product offerings of 38 APIs focused on diverse therapeutic segments such as antihistamine, analgesic, anaesthetic, vitamin, anti-asthmatic and anti-allergic as of October. It is the largest exporter of Chlorpheniramine Maleate and Ketamine Hydrochloride contributing to 45-50 percent and 60-65 percent, respectively, of the API exports from India, between FY17 and FY21.
Retail investors remain bullish
At the end of day 2, retail portion was subscribed 25.38 times, while the quota for QIBs and Non-institutional category saw a subscription of 0.53 time and 2.90 times.
Anchor investors
The active pharmaceuticals ingredients manufacturer on Wednesday raised ₹315 crore from 18 anchor investors on Wednesday. The company has allotted 1,14,96,351 shares at ₹274 a share to marquee investors such as Dovetail India Fund, Cohesion MK Best Ideas, Hornbill Orchid India Fund, Volrado Venture Partners Fund, Optimix Wholesale Global, and Societe Generale. Besides, domestic investors such as Nippon Life, Aditya Birla Sun Life Insurance, Abakkus Growth Fund and Reliance General Insurance also participated in the anchor book.
Utility of funds
The fresh issue money will be utilised for capital expenditure requirements, and repaying of debts.
The company has reserved 75 percent of its offer for qualified institutional buyers, 10 percent for retail investors, and the remaining 15 percent for non-institutional investors.
Shriram fixes IPO price at ₹118
Shares of Shriram Properties will be listed at the stock exchanges on Monday. The company has fixed the IPO price at ₹118, at the upper end of the price band. The company raised ₹600 crore through the issue.
The initial public offering (IPO) of Shriram Properties was subscribed 4.60 times. While the QIB portion was subscribed 1.85 times, those of non institutional investors was subscribed 4.82 times and that of retail individual investors by 12.72 times. Employees’ segment too was subscribed 1.25 times.
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