Supriya Lifescience Ltd has filed preliminary papers with capital markets regulator Sebi to boost Rs 1,200 crore by means of an preliminary public providing (IPO). The IPO contains contemporary challenge of fairness shares price Rs 200 crore and a proposal on the market of as much as Rs 1,000 crore by its promoter Satish Waman Wagh, in accordance with the draft crimson herring prospectus (DRHP).
Proceeds from the contemporary challenge shall be used for funding capital expenditure necessities, repay debt and basic company objective. Supriya Lifescience is among the key Indian producers and suppliers of energetic prescribed drugs substances (APIs), with a concentrate on analysis and growth. As of March, 2021, the corporate had product choices of 39 APIs targeted on numerous therapeutic segments akin to antihistamine, analgesic, anaesthetic, vitamin, anti-asthmatic and anti-allergic.
ICICI Securities and Axis Capital have been appointed as service provider bankers to advise the corporate on the IPO.