Supriya Lifescience Ltd has fixed a price band of Rs 265-274 apiece for its Rs 700-crore initial share-sale, which will open for public subscription on December 16.
The three-day initial public offering (IPO) will conclude on December 20. The bidding for anchor investors will open on December 15, according to the company.
The company has cut the OFS (offer-for-sale) size to Rs 500 crore, from Rs 1,000 crore earlier.
The IPO comprises a fresh issue of equity shares worth Rs 200 crore and an offer-for-sale of up to Rs 500 crore by its promoter Satish Waman Wagh.
Currently, the promoter holds 99.26 per cent stake in the company and the promoter group owns 0.72 per cent shareholding in the firm.
Proceeds from the fresh issue will be used for funding capital expenditure requirements, repaying debt and general corporate purposes.
About 75 per cent of the issue size has been reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors.
Investors can bid for a minimum of 54 equity shares and in multiples thereof.
ICICI Securities and Axis Capital are the book running lead managers to the public issue.
Supriya Lifescience is one of the key Indian manufacturers and suppliers of active pharmaceutical ingredients (APIs), with a focus on research and development.
As of October 31, 2021, the company had product offerings of 38 APIs focused on diverse therapeutic segments such as antihistamine, analgesic, anaesthetic, vitamin, anti-asthmatic and anti-allergic.
The company reported a net profit of Rs 123.38 crore in the fiscal year 2020-21, compared to a profit of Rs 73.37 crore in the previous year. The revenue of the company jumped to Rs 396.22 crore in FY21 from Rs 327.71 crore in FY20.
For the quarter ended on September 30, 2021, the company reported a net profit of Rs 65.96 crore with a revenue of Rs 230.06 crore.
From April 1, 2020 until October 31 2021, the company's products were exported to 86 countries to 1,296 customers including 346 distributors.