Sai Life Sciences IPO Day 1 Live Updates: Issue subscribed 2% so far; check GMP
Sai Life Sciences IPO Day 1 Live Updates: Sai Life Sciences, backed by major private equity firm TPG Capital, began its public subscription on Wednesday, December 11, and will end on Friday, December 13. The company secured ₹913 crore from anchor investors on Tuesday, prior to the start of its initial public offering. The price band for the offering has been set between ₹522 and ₹549 per share.
The proposed initial public offering includes a new issuance of equity shares amounting to ₹950 crore, along with an offer for sale (OFS) of 3.81 crore shares estimated to be worth ₹2,092 crore at the highest end of the price range, involving a promoter, investor shareholders, and other stakeholders.
Within the OFS, one of the promoter companies — Sai Quest Syn Private Limited — along with investor shareholders — TPG Asia VII SF Pte Ltd and HBM Private Equity India — will partially divest their respective holdings.
Currently, Sai Quest Syn holds a 5.61 percent share in the company, while TPG possesses 39.69 percent, and HBM Private Equity India has 5.5 percent.
Out of the funds raised through the IPO, approximately ₹600 crore will be allocated for debt repayment, with a portion dedicated to general corporate purposes.
Sai Life Sciences, located in Hyderabad, offers comprehensive services throughout the drug discovery, development, and manufacturing processes for small molecule new chemical entities (NCE) to global pharmaceutical innovators and biotechnology companies.
Stay tuned for more updates
Sai Life Sciences IPO Day 1 Live Updates: Shareholders selling stake in the IPO
Here are the shareholders who are offloading stake in the IPO:
- Sai Quest Syn Private Limited is selling up to 6,454,780 equity shares
- TPG Asia VII SF Pte Ltd is selling up to 23,159,368 equity shares
- HBM Private Equity India is selling up to 6,210,186 equity shares
- Bharathi Srivari is selling up to 650,000 equity shares
- Anita Rudraraju Nandyala is selling up to 500,000 equity shares
- Raju Penmasta is selling up to 500,000 equity shares
- Dr. Dirk Walter Sartor is selling up to 250,000 equity shares
- Jagdish Viswanath Dore is selling up to 245,100 equity shares
- Rajagopal Srirama Tatta is selling up to 62,500 equity shares
- K Pandu Ranga Raju is selling up to 80,000 equity shares
Sai Life Sciences IPO Day 1 Live Updates: Issue subscribed 2% so far
Within the first hour of bidding on Day 1, Sai Life Sciences IPO was subscribed 2%. Here’s the subscription status for different categories:
QIB: NIL
NII: 2%
Retail Investors: 4%
Overall: 2%
Sai Life Sciences IPO Day 1 Live Updates: Deven Choksey Research on Sai Life Sciences IPO
Sai Life Sciences Limited is a globally recognized Contract Research, Development, and Manufacturing Organization (CRDMO) offering integrated services across drug discovery, development, and manufacturing, with a strong presence in regulated markets like the US, UK, and Europe. The company benefits from a robust product pipeline, serving over 280 clients, including 18 of the top 25 global pharmaceutical firms. However, its significant reliance on key clients, limited diversification across treatment areas, and high infrastructure costs pose risks to sustained profitability.
With a P/E multiple of 138x, the valuation appears stretched compared to peers in the industry. This premium valuation, coupled with operational risks and margin pressures, limits its investment attractiveness despite growth potential in the global CRDMO market. Therefore, we assign an “AVOID” rating.
Sai Life Sciences IPO Day 1 Live Updates: Sai Life Sciences IPO structure
Sai Life Sciences IPO is a mix of fresh issue and offer for sale. The IPO consists of fresh shares of up to ₹950 crore and OFS of 38,116,934 equity shares, shows the company’s RHP.
Sai Life Sciences IPO Day 1 Live Updates: Retail portion sees 1% subscription
The retail investors started to bid for Sai Life Sciences IPO on the first day of the bidding process on Wednesday. The IPO was subscribed 1% in the retail category within 15 minutes of opening.
Sai Life Sciences IPO Day 1 Live Updates: IPO opens for bidding
Sai Life Sciences IPO opened for bidding at 10 am today. Investors can start placing bids for the issue from today onwards till December 13.
Sai Life Sciences IPO Day 1 Live Updates: Sai Life Sciences IPO Key Dates
- Sai Life Sciences IPO open date: December 11
- Sai Life Sciences IPO close date: December 13
- Sai Life Sciences IPO allotment date: December 16
- Initiation of refunds: December 17
- Credit of shares: December 17
- Sai Life Sciences IPO listing date: December 18
Sai Life Sciences IPO Day 1 Live Updates: Everything about Sai Life Sciences IPO at a glance
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Sai Life Sciences IPO Day 1 Live Updates: Company raised ₹913 crore from anchor investors on Tuesday
Sai Life Sciences raised ₹913 crore from anchor investors ahead of its initial public offering (IPO). Among the investors are entities like INQ Holding LLC, SmallCap World Fund Inc, Fidelity Funds, Abu Dhabi Investment Authority, Goldman Sachs Funds, BlackRock, and major mutual funds such as Nippon India MF, HDFC MF, Axis MF, and Kotak Mahindra MF, as reported in a BSE circular. The company has allocated over 1.66 crore equity shares to 63 funds at ₹549 per share, the upper limit of the price band, bringing the total value of the transaction to ₹913 crore.
Sai Life Sciences IPO Day 1 Live Updates: Check out latest GMP trends
Sai Life Sciences IPO GMP today is +31. This indicates Sai Life Sciences share price was trading at a premium of ₹31 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Sai Life Sciences share price is indicated at ₹580 apiece, which is 5.65% higher than the IPO price of ₹549.
Based on the grey market activities from the last six sessions, the current GMP ( ₹31) indicates a potential decline. The minimum GMP recorded is ₹22, while the maximum stands at ₹42, as per the experts at investorgain.com.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
