Supriya Lifescience IPO subscribed 71.47 times on last day

Supriya Lifescience IPO was fully subscribed within a few hours of opening for subscription last Thursday on the back of a strong response from investors.

Supriya Lifescience IPO was subscribed 71.47 times on the last day of share sale on Monday and received bids for 1,03,83,31,980 shares against 1,45,28,299 shares on offer, according to data.

Supriya Lifescience is one of the key manufacturers and suppliers of active pharmaceutical ingredients.  (Representative Image)

National Stock Exchange (NSE) data showed the category for non-institutional investors received 161.22 times subscription, those for Retail Individual Investors (RIIs) was subscribed 55.77 times and Qualified Institutional Buyers (QIBs) 31.83 times.

Last Thursday, Supriya Lifescience IPO was fully subscribed within a few hours of opening for subscription on the back of a strong response from investors.

The IPO, with a price range of ₹265-274 per share, had a fresh issue of up to ₹200 crore and an offer for sale of up to ₹500 crore.

The company, which raised ₹315 crore from anchor investors, said the proceeds from the fresh issue will be used for funding capital expenditure requirements, debt repayment and general corporate purposes.

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