Active pharmaceutical ingredients supplier Supriya Lifescience is all set to debut next week on December 28 after it saw strong demand for its initial public offering on December 16-20.
The company finalized its share allotment on December 23, and successful investors will get shares in their demat accounts by December 27. Unsuccessful bidders will get refunds in their accounts today.
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The initial public offering was subscribed 71.5 times, with retail investors bidding 56 times the portion reserved for them. The non-institutional investors' quota was booked 161 times, while the qualified institutional investors' portion was subscribed 31.8 times.
The Rs 700-crore IPO consisted of Rs 200-crore fresh issue and a Rs 500-crore offer for sale. Proceeds from the fresh issue will be used for working capital requirements and repaying debt.
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Here's how to check the allotment status on the website of the BSE or the IPO registrar:
On the BSE website, follow these three steps:
1. Select issue type (Equity), and issue name (Supriya Lifescience)
2. Enter the application number and the PAN number
3. And finally check box (I’m not a robot) and click on search button
On the IPO registrar’s website, follow these steps:
1. Select company name (Supriya Lifescience)
2. Select and accordingly enter either PAN number, or application number, or DP/Client ID, or account number / IFSC
3. And finally enter the captcha and click on submit button
Shares of Supriya Lifescience were trading at a premium of Rs 140 in the grey market, as per data from IPO Watch, over 50 percent higher than its issue price of Rs 274 per share. Its grey market premium improved from Rs 130 a day ago, likely on the back of the improved market sentiment.
Incorporated in 2008, Supriya Lifescience had 38 APIs as of October, focused on segments such as antihistamine, analgesic, anesthetic, vitamin, anti-asthmatic and anti-allergic. It is the largest exporter of chlorpheniramine maleate and ketamine hydrochloride making up 45-50% and 60-65%, respectively, of API shipments from India between FY17 and FY21.
"At the upper end of its price band, Supriya is available at a price/earnings ratio of 16.7 (FY22E annualised) which appears to be reasonably priced compared to its peers," Geojit Financial Services had said.
The brokerage had assigned a “subscribe” rating for the issue on a short to long-term basis considering strong financial performance, improving margins, export exposure, capacity expansions, and increased penetration in regulated markets.
Nirmal Bang, Marwadi Shares, Angel One, Choice Broking and BP Wealth also had a subscribe rating on the issue.