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Supriya Lifescience IPO subscribed 72 times

Economic Times  

The initial public offering (IPO) of Supriya Lifescience received applications for 1,03,89,66,318 shares against the offer size of 1,45,28,299 shares – translating to a subscription of 71.51 times. The portion reserved for retail bidders was subscribed 56.01 times, whereas HNI portion was subscribed about 161.22 times. Institutional allocation fetched 31.83 times bids. Supriya Lifescience is a manufacturer and supplier of active pharmaceutical ingredients (APIs). The issue consists of issuance of fresh equity shares worth INR 200 crore, whereas the promoter Satish Waman Wagh will offload shares worth INR 500 crore. The company will sell its shares in the range of INR 265-275 apiece. The company will use the proceeds to meet capital expenditure requirements, and for repaying debts.