Supriya Lifesciences IPO - Subscription Day 3

5paisa Research Team 5paisa Research Team 13th December 2022 - 04:33 pm

The Rs.700 crore IPO of Supriya Lifesciences, consisting of a fresh issue of Rs.200 crore and an offer for sale (OFS) of Rs.500 crore, saw decent response on Day-1 and Day-2 of the IPO. As per the combined bid details put out by the BSE at the end of Day 3, Supriya Lifesciences IPO was subscribed 71.47 times overall, with demand coming mainly from the HNI segment followed by the retail segment and QIB segment in that order. The issue has closed for subscription on Monday, 20th December.

As of close of 20th December, out of the 145.28 lakh shares on offer in the IPO, Supriya Lifesciences saw bids for 10,382.77 lakh shares. This implies an overall subscription of 71.47 times. The granular break-up of subscriptions was dominated by the HNIs followed by the retail investors and the QIBs.

Normally, it is only on the last day of bidding, the NII bids and the QIB bids build up substantial momentum and that is what was in ample evidence in the Supriya Lifesciences IPO too.

Supriya Lifesciences IPO Subscription Day 3

Category	Subscription Status
Qualified Institutional Buyers (QIB)	31.83 Times
Non Institutional Investors (NII)	161.22 Times
Retail Individuals	55.76 Times
Employees	N.A.
Overall	71.47 times

QIB Portion

Let us first talk about the pre-IPO anchor placement. On 15th December, Supriya Lifesciences did an anchor placement of 1,14,96,351 shares at the upper end of the price band of Rs.274 to 18 anchor investors raising Rs.315 crore, representing 45% of the overall issue size.

The list of QIB anchors included some global names like Dovetail India Fund, Cohesion MK, Malabar India Fund, Kuber India Fund, Volrado Partners, BNP Paribas, Societe Generale etc. Domestic investors in the anchor placement included Nippon India MF, Aditya Birla Sun Life MF, Reliance General Insurance, Rajasthan Global Securities etc. Anchor investors have a mandatory lock in period of just 1 month.

The QIB portion (net of anchor allocation as explained above) has a quota of 79.25 lakh shares of which it has got bids for 2,522.34 lakh shares at the close of Day-3, implying 31.83 times subscription for QIBs at the end of Day-2. QIB bids typically got bunched on the last day but the institutional interest in the anchor placement did give evidence of solid institutional appetite for the IPO.

HNI / NII Portion

The HNI portion got subscribed 161.22 times (getting applications for 6,387.80 lakh shares against the quota of 39.62 lakh shares). This is good response on Day-3 and this segment actually saw most of response bunched on the last day of the issue. Bulk of the funded applications and corporate applications, came in on the last day of the IPO only.

Retail Individuals

The retail portion was subscribed a relatively robust 55.76 times at the close of Day-3, showing strong retail appetite; as has been the general trend with smaller sized IPOs. It must be noted that retail allocation is just 10% in this IPO. For retail investors; out of the 26.42 lakh shares on offer, valid bids were received for 1,472.88 lakh shares, which included bids for 1,152.49 lakh shares at the cut-off price. The IPO is priced in the band of (Rs.265-Rs.274) and has closed for subscription on 20th December 2021.

Also Read:-

Supriya Lifesciences IPO - 7 Thing you Need to Know

Upcoming IPOs in December 2021