Supriya Lifescience announces launch of initial public offering
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Supriya Lifescience Ltd. has announced public offering of 25547446 shares at a price of Rs 2.00 each for Cash at a Premium of Rs 272.00 per share.
The gross proceeds of the issue are expected to be Rs 70,000.00 lakhs. The company's initial public offer (IPO) will open on 16 December 2021 and is expected to close on 20 December 2021, subject to customary closing conditions.
The price band of the issue has been fixed at Rs 265.00-274.00 per share. The IPO includes a fresh Issue of 25547446 Equity Shares of the Company at an price of Rs 274.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 54 shares with bids in multiples of 54.
Supriya Lifescience Ltd. anticipates using the proceeds of the issue for Funding capital expenditure requirements of the Company Repayment and/ or prepayment, in full or part, of certain borrowings availed by the Company and General corporate purposes.
Axis Capital Ltd.,ICICI Axis Capital Ltd as lead manager(s) & Link Intime India Private Limited is the registrar, to the issue.
