Supriya Lifescience Ltd is coming up with its 700-crore initial public offer (IPO), opening on December 16 for public subscription. The company has fixed a price band of Rs 265-274 per share. 

The offer will conclude on December 20. The bidding for anchor investors will begin on December 15, according to the company.

The firm has reduced its OFS (offer-for-sale) size to Rs 500 crore from Rs 1,000 crore earlier.

The IPO consists of a fresh issue of equity shares of Rs 200 crore and an offer-for-sale aggregating to Rs 500 crore by its promoter Satish Waman Wagh.

Currently, the promoter owns 99.26% of the company, while the promoter group owns 0.72 percent.

Proceeds from the share sale will be employed towards funding capital expenditure requirements, pay-off debts and general corporate purposes.

About one-third of the issue size is earmarked for qualified institutional buyers (QIBs), while Non-Institutional Investors (NIIs) have a reservation of 15 percent. Retail investors have a quota of 10 per cent.

Investors can invest for a minimum of 54 equity shares and in multiples of 54 shares thereof.

Supriya Lifescience is one of the leading active pharmaceutical ingredients (APIs) manufacturers and suppliers in the country, with the main focus on research and development.

As of October 31, 2021, the firm has 38 APIs in its product portfolio, including antihistamines, analgesics, anaesthetics, vitamins, anti-asthmatics, and anti-allergics.

The company's products were shipped to 86 countries to 1,296 clients, including 346 wholesalers, from April 1, 2020, to October 31, 2021.

The book running lead managers for the public offering are ICICI Securities and Axis Capital.