Supriya Lifescience will launch its Rs 700 crore initial public offering on Thursday, December 16. (IPO). The Mumbai-based active pharmaceutical ingredients company intends to sell its equity in the range of Rs 265-274.
The issue will comprise of new equity shares worth Rs 200 crore and the dumping of 1.82 crore equity shares worth Rs 500 crore by founder Satish Waman Wagh.
The new offering’s net proceeds will be utilised for capital expenditures, debt payments, and other general company objectives.
The company had 38 active pharmaceutical ingredients (APIs) focused on antihistamine, analgesic, anaesthetic, vitamin, anti-asthmatic, and antiallergic therapeutic segments as of October 2021.
Bids on a minimum of 54 equity shares and multiples of 54 are accepted. Subscriptions for the issue will be available until Monday, December 20. According to the prospectus, the corporation may offer individual investors discounted shares.
Non-institutional buyers will receive 15% of the shares, while qualified institutional buyers (QIBs) will receive 75% of the net issue. The retail element of the promotion is set at 10% of the total.
The company declared a net profit of Rs 123.38 crore in fiscal year 2020-21, up from Rs 73.37 crore the previous year. In FY21, the company’s revenue climbed to Rs 396.22 crore, up from Rs 327.71 crore the year before.
On revenue of Rs 230.06 crore, the company declared a net profit of Rs 65.96 crore for the quarter ended September 30, 2021.
ICICI Securities and Axis Capital will manage the offering. Link Intime has been named as the issue’s registrar. The shares will be listed on both the BSE and the NSE.