Its initial public offering (IPO) has received bids for 8,27,05,698 shares for 1,45,28,299 shares offered, according to NSE data.

Supriya Lifescience Limited’s initial stock sale earned 5.69 times on the second day of the offering on Friday.

Its initial public offering (IPO) has received bids for 8,27,05,698 shares for 1,45,28,299 shares offered, according to NSE data.

The Individual Individual Investor (RII) category was oversubscribed 25.38 times, non-institutional investors were 2.90 times, and qualified institutional buyers (QIBs) 53 percent.

Supriya Lifescience’s initial public offering was fully subscribed within a few hours of opening Thursday on the back of a strong response from retail investors.

The initial public offering has a new issue of up to Rs 200 crore and an offer for sale of up to Rs 500 crore.

The price range for the offer is Rs 265-274 per share.

The company on Wednesday raised Rs 315 crore from major investors.

Proceeds from the new issuance will be used to fund capital expenditure requirements, debt repayment and general corporate purposes.

Supriya Lifescience is one of the leading Indian manufacturers and suppliers of Active Pharmaceutical Ingredients, focusing on research and development.

ICICI Securities and Axis Capital are the two directors of the offering.

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