Sai Life Sciences Ltd’s initial public offering (IPO), worth ₹3,042.62 crore, concludes its subscription period today, December 13. The IPO opened on December 11, offering shares in the price band of ₹522 to ₹549 per share. Here’s everything you need to know about the issue’s current status, grey market premium (GMP), and investment potential as it enters its last day.
Sai Life Sciences IPO Key Details
- IPO Size: ₹3,042.62 crore
- Fresh Issue: 1.73 crore shares aggregating to ₹950 crore.
- Offer for Sale: 3.81 crore shares aggregating to ₹2,092.62 crore.
- Price Band: ₹522 to ₹549 per share.
- Lot Size:
- Minimum lot size: 27 shares (₹14,823).
- Small NII investment: ₹207,522 (14 lots).
- Large NII investment: ₹1,007,964 (68 lots).
- Subscription Dates: December 11–13, 2024.
- Listing Date: December 18, 2024, on BSE and NSE.
- Allotment Finalization Date: December 16, 2024.
Sai Life Sciences IPO Subscription Status
As of the end of the second day of bidding (December 12), Sai Life Sciences IPO had been subscribed 1.25 times, receiving bids for 4.86 crore equity shares against the 3.88 crore shares offered. The subscription breakdown is as follows:
- Retail Investors: 42% subscribed.
- Non-Institutional Investors (NII): 59% subscribed.
- Qualified Institutional Buyers (QIBs): 3.32 times subscribed.
Sai Life Sciences IPO GMP Today
The grey market premium (GMP) for Sai Life Sciences shares today stands at ₹18 per share. This implies a trading price of ₹567 apiece in the grey market, reflecting a modest 3% premium over the upper IPO price of ₹549.
Company Overview
Sai Life Sciences Ltd is a key manufacturer of small-molecule new chemical entities, catering to global pharmaceutical and biotech companies. The company specializes in providing customized services in the drug development lifecycle.
Sai Life Sciences generates a significant portion of its revenue from international markets and collaborates with leading global pharma and biotech firms. Its end-to-end solutions have made it a recognized name in the contract development and manufacturing organization (CDMO) sector.
Key Financials
- FY 2024 Revenue: ₹2,036.61 crore (up from ₹1,807 crore in FY 2023).
- Net Profit: ₹287.13 crore (a significant rise from ₹185.51 crore in FY 2023).
Should You Apply?
The IPO offers exposure to a fast-growing pharmaceutical services sector but at a moderate GMP and valuation. Analysts suggest that while Sai Life Sciences demonstrates robust growth and profitability, the highly competitive market may limit its scalability.
High-risk investors can consider applying due to the company’s long-term prospects, supported by a strong international presence and growth trajectory. However, cautious retail investors should weigh the muted GMP and the modest subscription figures before applying.
Key Dates and Details
- Anchor Bidding: December 10, 2024.
- Refund Initiation: December 16, 2024.
- Listing Date: December 18, 2024.
- Lead Managers: Kotak Mahindra Capital, Jefferies India, Morgan Stanley India, IIFL Securities.
- Registrar: Kfin Technologies Limited.
