The initial public offering (IPO) of Sai Life Sciences has been met with strong demand, attracting bids for 39.85 crore shares against 3.88 crore shares on offer, resulting in an overall subscription of 10.26 times. The IPO, which opened for bidding on December 11, 2024, and closed on December 13, 2024, offers a price band of ₹522-549 per share.
IPO Structure:
- Fresh Issue: ₹950 crore worth of equity shares
- Offer for Sale: ₹2,092.62 crore from existing shareholders (3.81 crore equity shares)
- Promoter Holding: Pre-IPO shareholding of 41.82%, expected to reduce to 35.24% post-IPO.
Use of Proceeds:
- ₹720 crore from the fresh issue will be used to repay/prepay outstanding borrowings, with the remaining amount allocated for general corporate purposes.
Anchor Investment:
Ahead of the IPO, Sai Life Sciences raised ₹912.78 crore from anchor investors on December 10, allocating 1.66 crore shares at ₹549 each to 63 anchor investors.
About Sai Life Sciences:
Sai Life Sciences is a contract research, development, and manufacturing organization (CRDMO). The company provides end-to-end services in drug discovery, development, and manufacturing for global pharmaceutical companies and biotechnology firms.
Financial Performance:
For the six months ending September 30, 2024, Sai Life Sciences reported a net profit of ₹28.01 crore and net sales of ₹675.29 crore.
This strong demand for the IPO reflects investor confidence in Sai Life Sciences, positioning the company for a successful listing.
