Sai Life Sciences has fastened the IPO value at ₹549, on the higher finish of the worth band of ₹522-549, after a profitable IPO that was subscribed 10.3 instances. The IPO of TPG Capital-backed Sai Life Sciences closed with a subscription 10.26 instances. The ₹3,043-crore IPO comprised a contemporary situation (₹950 crore) and an offer-for-sale of three.81 crore shares valued at ₹2,092 crore. Analysts anticipate solely a modest itemizing.
Below the OFS, one of many promoter entities, Sai Quest Syn Personal Ltd, and investor shareholders, TPG Asia VII SF Pte Ltd and HBM Personal Fairness India, will divest a part of their stakes. At current, Sai Quest Syn holds a 5.61 per cent stake within the firm, TPG 39.69 per cent and HBM Personal Fairness India owns 5.5 per cent.
The QIB portion was subscribed 30.93 instances, whereas the quota for retail buyers and HNIs was subscribed 1.37 instances and 4.92 instances, respectively.
The Hyderabad-based firm on Tuesday raised ₹913 crore from anchor buyers as a part of the IPO course of. Based on the round, Sai Life Sciences has allotted greater than 1.66 crore fairness shares to 63 funds at ₹549 apiece. The anchor buyers embody INQ Holding LLC, SmallCap World Fund Inc, Constancy Funds, Abu Dhabi Funding Authority, Goldman Sachs Funds, BlackRock, Nippon India Mutual Fund (MF), HDFC MF, Axis MF and Kotak Mahindra MF.
Of the IPO proceeds, ₹600 crore shall be allotted for debt reimbursement and a portion shall be used for common company functions.
Sai Life Sciences is among the largest built-in CRDMOs amongst listed Indian friends by way of income in FY24, serving as a one-stop platform for discovery, improvement and manufacturing.
