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Supriya Lifescience is a key manufacturer and supplier of active pharmaceutical ingredients
Supriya Lifescience has filed a draft red herring prospectus with Securities and Exchange Board of India to raise Rs 1,200 crore through an initial public offering (IPO). The Mumbai-based bulk drugs company’s IPO will consist of a fresh issue of Rs 200 crore and an offer for sale of up to Rs 1,000 crore by the promoter Satish Waman Wagh, as per the filing with the market regulator. The shares are likely to be listed on the BSE Sensex and NSE Nifty.
The company will utilise the IPO proceeds to expand its existing manufacturing facilities at Lote in Maharashtra, invest in existing manufacturing technologies and to repay debt.
Supriya Lifescience is one of the key Indian manufacturers and suppliers of active pharmaceutical ingredients (APIs). It has niche product offerings of 39 APIs focused on diverse therapeutic segments such as antihistamine, analgesic, anaesthetic, vitamin, anti-asthmatic and anti- allergics.
ICICI Securities and Axis Capital are the book running lead managers, and Link Intime India is the registrar to the issue.
