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The public offer, which opened on December 11, was subscribed 1.25x on the second day.
The mainboard IPO was booked 125% till 7 PM on Thursday, as per the data available with the stock exchanges. The investors applied for over 4.86 crore shares against 3.88 crore shares on offer.
The ₹3,042 crore IPO has been priced in the range of ₹522 to ₹549 per share. The subscription window will close on Friday, December 13.
The Qualified Institutional Buyers (QIBs) booked their quota 3.32 times even as the investors in other categories adopted a cautious approach. The portion reserved for retail investors was booked 42% whereas the Non-Institutional Investors (NIIs) booked 59% of the shares set aside for them.
Sai Life Sciences IPO GMP Day 2
The grey market premium (GMP) on the shares of Sai Life Sciences Ltd. stood at ₹22, down from ₹39 earlier in the day. According to reports, the estimated listing price of Sai Life Sciences shares was ₹571 as indicated by the latest GMP.
Investors must note that GMP is only an indicative price and does not show the actual listing price of the stock. Those looking to invest in Sai Life Sciences IPO should take into account the company’s fundamentals, industry dynamics and associated risks before submitting their bids.
Sai Life Sciences IPO details
Sai Life Sciences IPO is a book-built issue worth ₹3,042.62 crore. The IPO is a combination of a fresh issue of 1.73 crore shares and an offer-for-sale (OFS) portion of 3.81 crore shares, worth ₹2,092.62 crore.
The IPO share allotment status is expected to be finalised on December 16. Kfin Technologies Limited is the registrar for Sai Life Sciences IPO.
Shares of Sai Life Sciences Ltd are scheduled to be listed on the BSE and NSE on December 18.
About Sai Life Sciences Ltd.
Sai Life Sciences offers end-to-end solutions for small molecule drug development and manufacturing, catering to global pharmaceutical and biotech companies. The company posted a net profit of ₹28.01 crore in the six months ended September 2024, marking a turnaround from a net loss in the previous year.
Sai Life Sciences Ltd offers exposure to the growing pharmaceutical CRAMS sector, driven by global demand for innovative drug solutions.
First Published: Dec 12, 2024 2:09 PM IST
