The IPO of Supriya Lifescience Limited was subscribed to 71.47 times on Monday on the last day of issue.
The first share sale received offers for 1,03,83,31,980 shares against 1,45,28,299 shares offered, according to data from the National Stock Exchange (NSE).
The non-institutional investor category received subscriptions 161.22 times, while the retail investor category received 55.77 subscriptions and qualified institutional buyers (QIBs) 31.83 times.
Supriya Lifescience’s initial public offering (IPO) was fully subscribed within hours of opening for subscription on November 16, thanks to a strong response from retail investors.
The IPO had a new issue of up to Rs 200 crore and a sell offer of up to Rs 500 crore. It had a price range of Rs 265-274 per share.
Proceeds from the new issuance will be used to fund capital expenditures, debt servicing and general corporate purposes.
Supriya Lifescience is one of the leading Indian manufacturers and suppliers of active pharmaceutical ingredients, with a focus on research and development.
ICICI Securities and Axis Capital were the managers of the offer.