Supriya Lifescience to use Rs 92 crore for capacity enhancement, says 3-4 products entering China

Supriya Lifescience's IPO to raise Rs 700 crore opened for subscription on Thursday. The IPO of Mumbai-based Supriya Lifescience, a manufacturer and marketer of active pharmaceutical ingredients (API), is a combination of fresh issuance of shares worth Rs 200 crore, and an offer for sale (OFS) worth Rs 500 crore by promoters and shareholders.

Saloni Wagh, Whole Time Director at Supriya Lifescience, told CNBC-TV18 that out of the fresh issue, about Rs 92 crore will be spent to enhance capacity.

Supriya Lifescience's 3-4 products will be entering the China market in the next 5-6 months, CMD Satish Wagh said. The move will add to the company's revenues, he said.