IPO of Supriya Lifescience Subscribed 71.47 Times On Final Day

New Delhi: The Initial Public Offering (IPO) of Supriya Lifescience witnessed a subscription of Rs 71.47 times on the final day of its issue.

As per the National Stock Exchange (NSE), the initial share sale received bids for 1,03,83,31,980 shares against 1, 45,28,299 shares on offer.

The portion reserved for Non-Institutional Investors (NII) saw 161.22 times subscription while retail investor portion witnessed a subscription of 55.77 times and Qualified Institutional Buyers (QIBs) subscribed 31.83 times.

Notably, on November 16, the IPO of the company was fully subscribed within a few hours of opening.

The IPO of the company had a fresh issue of up to Rs 200 crore and an Offer for Sale of up to Rs 500 crore. It had a price range of Rs 265-274 per share.

The amount raised from the issue will be used for funding capital expenditure requirements, debt payment and general corporate purposes.

ICICI Securities and Axis Capital were the managers to the offer.

According to grey market observers, Supriya Lifescience IPO GMP aka grey market premium is Rs 130.

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