Mumbai: Sai Life Sciences IPO, a book built issue of Rs 3,042.62 crore, opens for public subscription on December 11, 2024 and the initial share sale will conclude on 13th December. The private equity major TPG Capital-backed company has fixed a price band of Rs 522-549 per equity share for its Rs 3,043 crore for its Initial Public Offering.
The Red Herring Prospectus (RHP) mentioned that the IPO is a combination of a fresh issue of equity shares worth up to Rs 950 crore and an Offer For Sale (OFS) of up to 3.81 crore equity shares by a promoter, investor shareholders and other shareholders.
The minimum lot size for the Sai Life Sciences IPO is 27 shares for which a minimum amount of investment required by retail investors is Rs 14,823. Investors applying in the NII category, are required to apply for a minimum 14 lots, for which they have to pump in Rs 207,522. In the bNII category, 68 lots is the minimum criteria.
Sai Life Sciences IPO GMP, allotment
Sai Life Sciences IPO allotment is expected to take place on December 16, 2024 while the process to initiate refunds is likely to start on December 17. The shares will be credited to the demat accounts of shareholders on December 17. The shares will list on BSE and NSE with a tentative date December 18, 2024.
According to investorgain, Sai Life Sciences IPO GMP stood at Rs 28. With the price band of Rs 549, the shares are likely to be listed at a price of Rs 577 apiece, which indicates a gain of 5.10 per cent.
The Hyderabad-based Sai Life Sciences in its IPO papers filed with the Securities and Exchange Board of India (Sebi) mentioned that the IPO proceeds (Rs 720 crore) will majorly be used for debt payment and a portion will be used for corporate general purposes.
Sai Life SciencesLimited is a public limited company incorporated under the Companies Act, 1956. The company is engaged in the business of providing end-to-end services across the drug discovery, development, and manufacturing value chain, for small molecule New Chemical Entities (NCE), to global pharmaceutical innovator companies and biotechnology firms.
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Sai Life Sciences’ Rs 3,043 crore IPO opens for subscription on December 11, 2024 and closes on December 13. The price band is set at Rs 522-549 per share. The IPO comprises a fresh issue and an offer for sale. Allotment is expected on December 16, with listing on December 18. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
