Latest News | Sai Life Sciences' IPO Subscribed 10.26 Times
Get latest articles and stories on Latest News at LatestLY. The Rs 3,043-crore initial public offer of Sai Life Sciences Ltd got subscribed 10.26 times on the last day of share sale on Friday.
New Delhi, Dec 13 (PTI) The Rs 3,043-crore initial public offer of Sai Life Sciences Ltd got subscribed 10.26 times on the last day of share sale on Friday.
The initial share sale received bids for 39,85,59,690 shares against 3,88,29,848 shares on offer, as per NSE data.
The category for Qualified Institutional Buyers (QIBs) obtained 30.93 times subscription while the portion for non-institutional investors got subscribed 4.92 times. Retail Individual Investors (RIIs) category received 1.37 times subscription.
The issue has a price band of Rs 522-549 apiece.
Private equity major TPG Capital-backed Sai Life Sciences on Tuesday collected Rs 913 crore from anchor investors.
The IPO has a fresh issue of equity shares worth Rs 950 crore and an offer-for-sale (OFS) of 3.81 crore shares valued at Rs 2,092 crore, by a promoter, investor shareholders and other shareholders.
Of the IPO proceeds, funds to the tune of Rs 600 crore will be used for debt payment and a portion for corporate general purposes.
Hyderabad-based Sai Life Sciences provides end-to-end services across the drug discovery, development and manufacturing value chain for small molecule new chemical entities (NCE) to global pharmaceutical innovator companies and biotechnology firms.
Kotak Mahindra Capital Company, IIFL Capital Services, Jefferies India Private Ltd, and Morgan Stanley India Company are the book-running lead managers to the offer.
The shares are proposed to be listed on the BSE and NSE.
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