Supriya Lifescience, manufacturer of active pharmaceutical ingredients’ shares will list on the bourses tomorrow on Tuesday, December 28. The company’s shares will list both on the national stock exchange (NSE) and Bombay stock exchange (BSE).
Experts are expected a healthy listing owing to the company’s sound financials, growth potential in the pharma industry and a good response by investors to its initial public offer (IPO).
Supriya Lifescience’s IPO was subscribed 71.51 times during December 16-20.
The allotted quota of non-institutional investors was subscribed 161.22 times, followed by retail investors’ 56.01 times. Qualified institutional buyers also showed strong interest in the public issue, as the portion set aside for them was subscribed 31.83 times.
The company has mopped up Rs 700 crore through its public issue, which comprised a fresh issue of Rs 200 crore and an offer for sale of Rs 500 crore by promoter Satish Waman Wagh.
Surpriya Lifescience is one of the leading manufacturers and suppliers of APIs with a niche product basket of 38 APIs across therapeutic segments such as antihistamine, analgesic and anti-asthamatic among others.