Sai Life Sciences Ltd. will launch its initial public offering on Dec. 11 at a price band of Rs 522-549 per share.
The IPO comprises both an offer-for-sale component, as well as a fresh issue of shares. The company will offload a total of 3.81 crore shares through the OFS—the proceeds of which will be entirely received by the selling shareholders. The company is also set to issue fresh shares worth Rs 950 crore. The maiden issue will be worth Rs 3,041.69 crore at the upper end of the price band, as per NDTV Profit’s calculations.
Following the public issue, shares of Sai Life Sciences will be listed on the NSE and the BSE.
Promoter Sai Quest Syn Pvt. will be offloading 64.5 lakh shares under the offer-for-sale component.
TPG Asia VII SF Pvt. and HBM Private Equity India, two of the investors selling their shares, will be offloading 2.31 crore and 62.1 lakh crore shares respectively through the OFS. Other selling shareholders will include Bharathi Srivari, Anita Rudraraju Nandyala, Raju Penmasta, Dr. Dirk Walter Sartor, Jagdish Viswanath Dore, Rajagopal Srirama Tatta and K Pandu Ranga Raju.
The anchor investment round is scheduled on Dec. 10, a day before the offer opens for subscription. The IPO will close on Dec. 13.
Kotak Mahindra Capital Co., IIFL Capital Services Ltd., Jefferies India Pvt. and Morgan Stanley India Co. are the book-running lead managers for the IPO, whereas KFin Technologies Ltd. is the registrar for the issue.
The company proposes to use the proceeds of the issue towards repayment of borrowings and general corporate purposes.
Sai Life Sciences Business
Sai Life Sciences, founded in January 1999, specialises in the research, development, and manufacturing of small-molecule new chemical entities. The company provides customised services to biotech and global pharmaceutical firms.
In fiscal 2025 and for the month ending Sept. 30, 2024, Sai Life Sciences served over 280 pharmaceutical innovators, with more than 230 clients in September alone. The company collaborated with 18 of the top 25 pharmaceutical companies by revenue in 2023. Its services span key global markets, including the US, UK, Europe, and Japan.
In the financial year ended March 31, 2024, Sai Life Sciences logged revenue from operations of Rs 1,465.18 crore, higher by 20% as compared to Rs 1,217.14 crore in fiscal 2023. The net profit was at Rs 82.81 crore in fiscal 2024 from Rs 9.99 crore in the preceding year.
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