NEW DELHI: Supriya Lifescience will launch its Rs 700 crore initial public offering (IPO) on December 16, Thursday. The Mumbai-based active pharmaceuticals ingredients manufacturer will sell its shares in the range of Rs 265-274.
The issue consists of issuance of fresh equity shares worth Rs 200 crore, whereas the promoter Satish Waman Wagh will offload 1.82 crore equity shares aggregating up to Rs 500 crore.
The net proceeds from the fresh issue will be utilized towards capital expenditure requirements, repaying of debts, and general corporate purposes.
The company has niche product offerings of 38 active pharmaceutical ingredients (APIs) focused on diverse therapeutic segments such as antihistamine, analgesic, anesthetic, vitamin, anti-asthmatic and antiallergic, as of October 2021.
Investors can bid for a minimum of 54 equity shares and in multiple of 54 thereof. The issue can be subscribed till December 20, Monday. The company may offer shares at a discount to retail investors as per its prospectus.
75 per cent of the net issue is reserved for qualified institutional buyers (QIBs), whereas non-institutional buyers will have 15 per cent shares allocated for them. The retail portion has been fixed at 10 per cent of the offer.
The company reported a net profit of Rs 123.38 crore in the fiscal year 2020-21, compared to a profit of Rs 73.37 crore in the previous year. The revenue of the company jumped to Rs 396.22 crore in FY21 from Rs 327.71 crore in FY20.
For the quarter ended on September 30, 2021, the company reported a net profit of Rs 65.96 crore with a revenue of Rs 230.06 crore.
ICICI Securities and Axis Capital have been appointed to manage the issue. Link Intime have been appointed as the registrar to the issue. Shares will be listed at both BSE and NSE.
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