Sai Life Sciences IPO to Raise ₹3,042 Crores, Opens for Subscription on December 11
- Diverse Product Offerings: Sai Life Sciences boasts a comprehensive portfolio of 38 active pharmaceutical ingredients (APIs) and several promising molecules in development, including seven blockbuster drugs generating over $1 billion in annual revenue
BILKULONLINE
Ahmedabad, Dec 9: Sai Life Sciences Limited, a leading contract research, development, and manufacturing organization (CRDMO), is set to launch its Initial Public Offering (IPO) on December 11, 2024.
The IPO will close on December 13, 2024. With a price band of ₹522 to ₹549 per share, the company aims to raise approximately ₹3,042.62 crores through a combination of a fresh issue of ₹950 crores and an offer for sale (OFS) of ₹2,092.62 crores, comprising 38,116,934 equity shares with a face value of ₹1 each.
Key Highlights of Sai Life Sciences IPO:
Subscription Dates: December 11-13, 2024
Price Band: ₹522 to ₹549 per share
Lot Size: Minimum 27 shares, requiring an investment of ₹14,823 for retail investors.
Listing Date: December 18, 2024, on BSE and NSE.
Retail Investor Quota: 35% of the issue size.
Qualified Institutional Buyers (QIB) Quota: 50%
Non-Institutional Investors (HNI) Quota: 15%
Objectives of the Issue:
Repayment/Prepayment: To repay or prepay in full or part of certain outstanding borrowings.
General Corporate Purposes: Strengthening overall financial stability.
Financial Performance:
Sai Life Sciences reported a revenue of ₹1,494.27 crores in FY2024, marking a significant growth from ₹1,245.11 crores in FY2023. The profit surged to ₹82.81 crores in FY2024 from ₹9.99 crores in FY2023, showcasing a strong financial trajectory.
Company Profile:
Founded in January 1999, Sai Life Sciences specializes in small-molecule new chemical entities (NCEs), offering end-to-end services in drug discovery, development, and manufacturing. The company collaborates with over 280 pharmaceutical innovators, including 18 of the top 25 global pharmaceutical firms based on 2023 revenue. Their services cater to markets across the US, UK, Europe, and Japan.
IPO Management:
The lead managers for the IPO include Kotak Mahindra Capital Company Limited, Jefferies India Private Limited, Morgan Stanley India Company Pvt Ltd, and IIFL Securities Ltd, with KFin Technologies Limited as the registrar.
Promoters:
The company’s promoters include Kanumuri Ranga Raju, Krishnam Raju Kanumuri, Kanumuri Mytrey, Sai Quest Syn Private Limited, and investor partners like Sunflower Partners, Lily Partners, Marigold Partners, and Tulip Partners.
Investment Perspective:
With a robust revenue and profit growth trajectory, Sai Life Sciences is positioned as a promising investment for long-term investors. The company’s focus on innovation, adaptability, and value creation in the pharmaceutical sector strengthens its appeal amid growing global healthcare needs.
Interested investors can apply through book-built issues starting December 11, 2024.
Disclaimer: This IPO news report is for informational purposes only and does not constitute financial or investment advice.
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