Market News
3 min read | Updated on December 18, 2024, 16:18 IST
SUMMARY
The ₹3,042 crore public issue of Sai Life Science was oversubscribed 10.27x, and the allotment was finalised on Monday evening. The shares list at an 18.4% premium and jump 7% higher to hit a listing day high of ₹701 per share.
Sai Life Sciences IPO was oversubscribed by 10x with strong participation by retail investors.
Sai Life Sciences IPO listing 3:30 pm: Share price Shares of Sail Life Sciences IPO closed with handsome gains for the investors as the shares jumped nearly 16% higher from the listing price of ₹650 apiece. The
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Sai Life Sciences Limited, established in 1999, specialises in research, development and manufacturing of small-molecule new chemical entities. It provides services to biotech and global pharmaceutical companies. The company’s services span markets like the US, UK, Europe and Japan.
Sai Life Sciences offers services in chemistry, manufacturing and control (CMC), contract development and manufacturing (CDMO), and contract research organisation (CRO), covering areas like biology, chemistry and drug metabolism.
After hitting listing day high of ₹764 apiece on the NSE, shares pared some gains to trade 14.5% higher at ₹744 per share at 13:00 pm.
CMP- ₹750
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The qualified institutional buyers (QIBs) showed the highest demand by subscribing their quota 30.93 times, with bids for 33.01 crore shares against the 1.07 crore shares available to them. The non-institutional investors (NIIs) placed bids for 4.15 crore shares against the 84.47 lakh shares on offer, leading to a subscription of 4.92 times in the segment.
The retail segment of the IPO was subscribed 1.3 times as retail investor bid 2.69 crore shares against the offer of 1.97 crore shares.
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