Supriya Lifescience IPO Subscribed 2.33 Times On Day 1
Supriya Lifescience Ltd., a bulk drugmaker, kicked off its initial public offering on Thursday.
The issue was subscribed fully within two hours of opening, led by retail demand.
The IPO comprises a fresh issue worth Rs 200 crore and an offer for sale of up to Rs 500 crore. It's seeking a market value of Rs 2,205 crore at the upper end of the price band. The three-day issue will close on Dec. 20.
Prior to the IPO, Supriya Lifescience raised Rs 315 crore from anchor investors by allotting 1.15 crore shares at Rs 274 apiece.
BNP Paribas Arbitrage, Societe Generale, Reliance General Insurance Company, Aditya Birla Sun Life Insurance Company, Kuber India Fund, Saint Capital Fund and Nippon India Mutual Fund are among the anchor investors.
The promoter and promoter group shareholding after the share sale will be at 68.24% against close to 100% now. Around 10% of the net offer is for retail, while 75% is for qualified institutional buyers, and 15% for non-institutional buyers.
Subscription Details: Day 1
The IPO was subscribed 2.33 times as of 5 p.m. on Dec. 16.
Institutional investors: 0 times.
Non-institutional investors: 0.66 times.
Retail investors: 11.84 times.