Sai Life Sciences IPO - Day 3 Subscription at 1.68 Times

The conclusion of Sai Life Sciences' initial public offering (IPO) has revealed an interesting divergence in investor sentiment, with the overall subscription reaching 1.68 times by 12:11 PM on December 13, 2024. This final-day performance presents a noteworthy contrast across investor categories, particularly highlighting strong institutional confidence in the company's pharmaceutical research and development capabilities.

Sai Life Sciences IPO closing response showcased robust institutional backing, with Qualified Institutional Buyers (QIBs) leading the subscription at 4.03 times, demonstrating strong conviction in the company's business model and growth prospects. The Non-Institutional Investors showed measured confidence with 1.14 times subscription, while the retail segment participated at 0.57 times. This pattern particularly underscores the sophisticated nature of the company's business model, which appears to have resonated more strongly with institutional investors who typically have deeper understanding of the pharmaceutical research sector.

The subscription progression across three days reveals a steady build-up of institutional interest, while other categories showed gradual improvement, reflecting the market's nuanced evaluation of the company's positioning in the pharmaceutical research services space.
 

Subscription Status of Sai Life Sciences IPO:

*As of 12:11 PM

Here are the subscription details for Sai Life Sciences IPO as of Day 3 (13th December 2024, 12:11 PM):

Total Applications: 3,56,119

Key Highlights:

• Overall subscription reached 1.68 times, with total bid value of ₹3,584.016 crores
• QIB portion showed strongest interest at 4.03 times, worth ₹2,452.786 crores, reflecting strong institutional confidence
• NII category improved to 1.14 times, showing balanced participation from wealthy investors
• Retail portion closed at 0.57 times, indicating measured retail investor approach
• Total applications reached 3,56,119, showing broad market participation
• Strong QIB interest reflected confidence in company's R&D capabilities
• Subscription pattern indicated sophisticated investor evaluation of business model
• Final day response highlighted institutional recognition of growth potential

Sai Life Sciences IPO - Day 2 Subscription at 1.26 Times

Key Highlights:

• Overall subscription improved to 1.26 times, showing growing momentum
• QIB segment strengthened to 3.20 times, demonstrating increasing institutional confidence
• NII participation increased to 0.60 times from day one levels
• Retail portion showed gradual improvement to 0.43 times
• Day two response indicated growing institutional recognition
• Subscription trend suggested deepening market assessment
• Pattern reflected increasing appreciation of company's market position
• Institutional interest highlighted sector expertise evaluation

Sai Life Sciences IPO - Day 1 Subscription at 0.85 Times

Key Highlights:

• Overall subscription began at 0.85 times, setting a foundation
• Strong early QIB interest at 2.52 times, indicating institutional confidence
• NII participation started at 0.16 times, showing measured approach
• Retail portion opened at 0.19 times, reflecting careful evaluation
• Opening day response suggested methodical market assessment
• Initial institutional interest indicated sector expertise recognition
• First-day numbers reflected careful evaluation process
• Early response demonstrated market's sophisticated 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