Supriya Lifescience IPO to open on 16th December

Supriya Lifescience is opening its Initial Public Offering (IPO) on 16th December, 2021. Bids can be made for a minimum of 54 equity shares and in multiples of 54 equity shares thereafter, the company said in a  statement.

It also said that the company plans to raise funds aggregating upto Rs 7,000 million. The offer comprises fresh issue of equity shares aggregating upto Rs 2,000 million by the company (The “fresh issue”) and offer for sale aggregating upto Rs 5,000 million by Satish Waman Wagh (The “promoter selling shareholder”), (The “offer for sale,” together with the fresh issue, the “offer”).

Further, according to the statement, this offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”) read with Regulation 31 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (the “SEBI ICDR Regulations”). This Offer is being made through the book building process in accordance with Regulation 6(2) of the SEBI ICDR Regulations wherein not less than 75 per cent of the offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (the “QIB Portion”), provided that the company and the promoter selling shareholder in consultation with the BRLMs may allocate up to 60 per cent of the QIB portion to anchor investors on a discretionary basis (“anchor investor portion”). One-third of the anchor investor portion shall be reserved for domestic mutual funds, subject to valid bids being received from the domestic mutual funds at or above the anchor investor allocation price.

In addition, five per cent of the Net QIB portion shall be available for allocation on a proportionate basis to mutual funds only, and the remainder of the QIB portion shall be available for allocation on a proportionate basis to all QIB bidders (other than anchor investors), including mutual funds, subject to valid bids being received at or above the offer price. If at least 75 per cent of the offer cannot be allotted to QIBs, the bid amounts received by our company shall be refunded. Further, not more than 15 per cent of the offer shall be available for allocation on a proportionate basis to non-institutional bidders and not more than 10 per cent of the offer shall be available for allocation to Retail Individual Bidders (“RIBs”) in accordance with the SEBI ICDR Regulations, subject to valid bids being received from them at or above the offer price. All bidders, other than anchor investors, are mandatorily required to participate in the offer through the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA account, which will be blocked by the Self Certified Syndicate Banks (“SCSBs”), or through the UPI mechanism. Anchor investors are not permitted to participate in the anchor investor portion through the ASBA process, the statement concluded.