Supriya Lifescience has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise Rs 1,200 crore through an initial public offering (IPO).
Proceeds from the fresh issue will be used for funding capital expenditure requirements, repay debt and general corporate purpose. ICICI Securities and Axis Capital have been appointed as merchant bankers to advise the company on the IPO.
Supriya Lifescience is one of the key Indian manufacturers and suppliers of active pharmaceuticals ingredients (APIs), with a focus on research and development.
