Sai Life Sciences IPO Day 1 Live Updates: Sai Life Sciences, backed by major private equity firm TPG Capital, will begin 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: 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.
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