Sai Life Sciences Debuts at ₹650 on December 18, 2024

18 Dec 2024 , 11:19 AM

Sai Life Sciences made a strong stock market debut on December 18, 2024, listing at ₹650 on the NSE, an 18.4% premium over its IPO price of ₹549.On the Bombay Stock Exchange, Sai Life Sciences listed at ₹660. This is said to be a 20.22% gain over issue price.

Sai Sai Life Sciences IPO witnessed huge demand. The bids were of 10.27 times, the total bids being 39.85 crore shares against an offer of 3.87 crore shares. The retail investor category got subscribed 1.39 times, the NII category 4.99 times and QIB segment 29.78 times.

The IPO comprised a fresh issue of 1.73 crore shares worth ₹950 crore and an offer for sale of 3.81 crore shares worth ₹2,092.62 crore. The company has raised ₹912.79 crore through anchor investors on December 10, 2024. It is required to invest at least ₹14,823 to buy 27 shares of the company. It would use the funds raised from the issue to settle partly or in full, outstanding borrowings and for general corporate purposes.

Lead managers are Kotak Mahindra Capital, Jefferies India, and Morgan Stanley. Registrar is Kfin Technologies. Sai Life Sciences was founded in the year 1999 and is a small-molecule new chemical entities company. They serve pharmaceutical and biotech companies globally.

By FY24, the company had serviced over 280 pharmaceutical companies, including 18 of the top 25 in the world, across its clients in the US, UK, Europe, and Japan. Financially, Sai Life Sciences recorded 20% revenue growth, with an astonishing 729% PAT increase from FY23 to FY24.