Sai Life Sciences IPO - Day 1 Subscription at 0.05 Times

Sai Life Sciences Limited's initial public offering (IPO) has received modest investor interest on its opening day. The IPO witnessed measured participation across categories, with subscription rates reaching 0.05 times by 12:21 PM on December 11, 2024.

The Sai Life Sciences IPO, which opened on December 11, 2024, has seen varied participation across categories. The Retail Investors segment has shown initial interest reaching 0.09 times subscription, while Non-Institutional Investors demonstrated modest participation at 0.04 times. The QIB portion is currently at 0.00 times subscription.

This initial response comes as the company seeks to raise funds in the pharmaceutical research and development sector.

Subscription Status of Sai Life Sciences IPO:

*As of 12:21 PM

Here are the subscription details for Sai Life Sciences IPO as of Day 1 (11th December 2024, 12:21 PM):

Total Applications: 52,433
 

Sai Life Sciences IPO Key Highlights:

• Overall subscription opened at 0.05 times on day one, reflecting initial market response
• Retail investors showed early interest with 0.09 times subscription, worth ₹94.846 crores
• Non-Institutional Investors demonstrated modest participation at 0.04 times subscription
• QIB portion yet to see significant participation in early hours
• Total bids received for 21,01,329 shares worth ₹115.363 crores
• Applications reached 52,433 on opening day
• Strong anchor investor participation secured ₹912.786 crores
• Opening day response indicates measured market assessment
• Initial subscription trend suggests cautious investor approach

About Sai Life Sciences Limited: 

Incorporated in January 1999, Sai Life Sciences Limited has established itself as a leading research and development company specializing in small-molecule new chemical entities. The company has built a strong reputation through its comprehensive range of services to biotech firms and global pharmaceutical companies, serving over 280 innovator pharmaceutical companies in FY2024.

Operating globally, the company's portfolio encompasses various services including contract research, development, and manufacturing organizations (CRDMO). They work with 18 of the top 25 pharmaceutical companies across countries such as the US, UK, Europe, and Japan. With 2,353 scientific staff, including 302 Ph.D.s and 1,475 master's degrees as of September 2024, the company demonstrates strong research capabilities.

Highlights of the Sai Life Sciences IPO:

• IPO type: Book Built Issue
• IPO size: ₹3,042.62 crores
• Fresh Issue: 17,304,189 shares (₹950.00 crores)
• Offer for Sale: 38,116,934 shares (₹2,092.62 crores)
• Face value: ₹1 per share
• Price band: ₹522 to ₹549 per share
• Lot size: 27 shares
• Minimum investment for retail investors: ₹14,823
• Minimum investment for sNII: ₹207,522 (14 lots)
• Minimum investment for bNII: ₹1,007,964 (68 lots)
• Listing at: BSE, NSE
• IPO opens: December 11, 2024
• IPO closes: December 13, 2024
• Allotment date: December 16, 2024
• Refund initiation: December 17, 2024
• Credit of shares: December 17, 2024
• Listing date: December 18, 2024
• Lead Managers: Kotak Mahindra Capital Company Limited, Jefferies India Private Limited, Morgan Stanley India Company Pvt Ltd and IIFL Securities Ltd
• Registrar: Kfin Technologies Limited