The public issue of active pharmaceutical constituents supplier Supriya Lifescience witnessed strong demand from investors as the offer was subscribed71.51 times.
It entered flings for103.89 crore equity shares against the IPO size of1.45 crore equity shares on December 20, the final day of bidding.
Incorporated in March 2008, Supriya Life has niche product immolations of 38 APIs concentrated on different remedial parts similar as antihistamine, analgesic, anaesthetic, vitamin,anti-asthmatic andanti-allergic as of October. It's the largest exporter of Chlorpheniramine Maleate and Ketamine Hydrochloride contributing to 45-50 percent and 60-65 percent, independently, of the API exports from India, between FY17 and FY21.
Retail investors remain bullish
At the end of day 2, retail portion was subscribed25.38 times, while the share for QIBs andNon-institutional order saw a subscription of0.53 time and2.90 times.
Anchor investors
The active medicinals constituents manufacturer on Wednesday raised ₹ 315 crore from 18 anchor investors on Wednesday. The company has distributed shares at ₹ 274 a share to marquee investors similar as Dovetail India Fund, Cohesion MK Best Ideas, Hornbill Orchid India Fund, Volrado Venture Mates Fund, Optimix Wholesale Global, and Societe Generale. Either, domestic investors similar as Nippon Life, Aditya Birla Sun Life Insurance, Abakkus Growth Fund and Reliance General Insurance also shared in the anchor book.
Mileage of finances
The fresh issue plutocrat will be utilised for capital expenditure conditions, and repaying of debts.
The company has reserved 75 percent of its offer for good institutional buyers, 10 percent for retail investors, and the remaining 15 percent fornon-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 original public immolation (IPO) of Shriram Properties was subscribed4.60 times. While the QIB portion was subscribed1.85 times, those of non institutional investors was subscribed4.82 times and that of retail individual investors by12.72 times. Workers’ member too was subscribed1.25 times.
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