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  1. Sai Life Sciences IPO: Issue fully subscribed on day 2 as QIBs lead; check lot size and key dates

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Sai Life Sciences IPO: Issue fully subscribed on day 2 as QIBs lead; check lot size and key dates

Upstox

2 min read | Updated on December 12, 2024, 14:00 IST

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SUMMARY

Sai Life Sciences IPO: The ₹3042.62 crore initial share sale, with a price range of ₹522-₹549 a unit, is a mix of fresh issuance of equity shares aggregating ₹950 crore and an offer-for-sale of ₹2,092 crore.

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Sai Life Sciences IPO will conclude on December 13.

Sai Life Sciences IPO: The initial public offer of Sai Life Sciences has been fully subscribed on the second day of bidding on Thursday, December 12.

The initial share sale received bids for 3,91,28,724 shares against 3,88,29,848 equity shares on offer, taking the total subscription to 1.01 times till 2 pm.

The part reserved for qualified institutional buyers (QIBs) was booked 2.88 times, while the portion for retail investors received 30% subscription. Non-institutional investors quota also mopped up 30% subscription.

Prior to the IPO, Sai Life Sciences, which is backed by TPG Capital, collected ₹913 crore from anchor investors, including Fidelity Funds, INQ Holding LLC, Goldman Sachs Funds, SmallCap World Fund Inc, BlackRock, Abu Dhabi Investment Authority, Nippon India Mutual Fund (MF), Kotak Mahindra MF, Axis MF and HDFC MF.

The ₹3042.62 crore IPO, with a price range of ₹522-₹549 a unit, is a mix of fresh issuance of equity shares aggregating ₹950 crore and an offer-for-sale of ₹2,092 crore.

Under the OFS, Sai Quest Syn Pvt Ltd, a promoter entity, and investor shareholders HBM Private Equity India and TPG Asia VII SF Pte Ltd will partly divest their respective stakes.

The money raised will be used to pay off debt and serve general corporate purposes.

Sai Life Sciences IPO: Lot size

An interested investor can bid for at least 20 shares, requiring an investment of ₹14,823.

Investor CategoryShares Offered
Anchor Investors30%
QIBs20%
NIIs15%
Retail investors35%
Total100%

Sai Life Sciences IPO: Allotment and listing date

  • Bidding period: December 11-December 13
  • Allotment: December 16
  • Refund: December 17
  • Credit to Demat AC: December 17
  • Listing: December 18

Hyderabad-based Sai Life Sciences is an end-to-end services provider across the drug discovery and manufacturing value chain for small molecule new chemical entities to global pharmaceutical innovator firms and biotechnology companies.

To learn more about IPO listings, schedules, and upcoming IPOs, visit our page.

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