Supriya Lifesciences Share Price: Shares of API maker Supriya Lifescience made a strong start and got listed on the stock exchanges today at a premium of 55 per cent over their issue price.
The stock got listed at Rs 425.00 on BSE, registering a gain of 55.11 per cent from its offer price of Rs 274.00, while on National Stock Exchange (NSE), it opened at Rs 421.00, up 53.65 per cent. issue price.
However, the stock slipped from its opening levels and touched a low of Rs 385.00 on both BSE and NSE within minutes.
At 10:30 am, the stock was trading at Rs 395.80 on BSE, up 44.45 per cent over the issue price, while it was up 44.49 per cent at Rs 395.90 on NSE. BSE data showed the market capitalization stood at Rs 3,185.51 crore.
Over 1.23 crore shares of Supriya Lifesciences were traded so far on the NSE, while around 7.78 lakh shares were traded on the BSE, data from the respective stock exchanges showed.
Supriya Lifescience is one of the leading Indian manufacturers and suppliers of active pharmaceutical ingredients, focusing on research and development.
The IPO was met with a strong demand during the offering period of December 16-20, 2021. It got subscribed 71.51 times on the last day.
Reacting to the listing, Santosh Meena, Head of Research, Swastika Investmart said, “Over the past 3-5 years, the API and specialty chemicals industries have been a darling of investors, and we are confident this trend will continue for many years. As a result of good investor participation, the IPO opened at Rs 421, while the issue price was Rs 274, a premium of 53 per cent.
He further added that in the long run, investors should hold the stock, while those who have applied for listing gain can keep a stop loss of Rs 380 on a closing basis. New investors can also look for buying opportunities in the fall.
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