On Thursday, December 16, Supriya Lifescience will launch its Rs 700 crore initial public offering (IPO). The Mumbai-based active pharmaceutical ingredients manufacturer plans to sell its stock in the Rs 265-274 range.
The issue will consist of the issuance of new equity shares worth Rs 200 crore, as well as the offloading of 1.82 crore equity shares worth Rs 500 crore by the promoter Satish Waman Wagh.
The net proceeds from the new offering will be used for capital expenditures, debt repayment, and other general corporate purposes.
As of October 2021, the company had 38 active pharmaceutical ingredients (APIs) focused on a variety of therapeutic segments, including antihistamine, analgesic, anaesthetic, vitamin, anti-asthmatic, and antiallergic.
Investors can place bids on a minimum of 54 equity shares and multiples of 54. The issue will be available for subscription until Monday, December 20. According to the prospectus, the company may offer shares at a discount to retail investors.
Qualified institutional buyers (QIBs) will receive 75 percent of the net issue, while non-institutional buyers will receive 15% of the shares. The retail portion of the offer has been set at 10% of the total.
In the fiscal year 2020-21, the company reported a net profit of Rs 123.38 crore, up from Rs 73.37 crore the previous year. The company’s revenue increased to Rs 396.22 crore in FY21 from Rs 327.71 crore the previous year.
The company reported a net profit of Rs 65.96 crore for the quarter ended September 30, 2021, on revenue of Rs 230.06 crore.
The issue will be managed by ICICI Securities and Axis Capital. The issue’s registrar has been appointed as Link Intime. Both the BSE and the NSE will list the shares.