Supriya Lifescience will be hitting the market with an IPO on December 16, which will close on December 20. The price band of the offer has been fixed in the range of Rs 265-274 per equity share of face value of Rs 2 each. Bids can be made for a minimum of 54 equity shares and in multiples of 54 equity shares thereafter, the company has said in a media release. 

The company plans to raise Rs 700 crore through the public offer, which comprises a fresh issue of equity shares worth Rs 200 crore and an offer for sale of Rs 500 crore by promoter Satish Waman Wagh.  

The net proceeds from the fresh issue will be utilised for capital expenditure requirements, repaying of debts and general corporate purposes. 

The company has niche product offers of 38 active pharmaceuticals ingredients (APIs), focused on diverse therapeutic segments, such as antihistamine, analgesic, anaesthetic, vitamin, anti-asthmatic and antiallergic. 

The company has been the largest exporter of chlorpheniramine maleate and ketamine hydrochloride from India, contributing to about 50 and 65 per cent of the API exports from India respectively between FY17 and FY21. It was among the largest exporters of salbutamol sulphate in India, contributing to around 31 per cent of the API exports from the country in FY21 in volume terms.