Sai Life Sciences IPO Closed
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Schedule of Sai Life Sciences
| Issue open date | 11 Dec 2024 |
| Issue close date | 13 Dec 2024 |
| UPI mandate deadline | 13 Dec 2024 (5 PM) |
| Allotment finalization | 16 Dec 2024 |
| Refund initiation | 17 Dec 2024 |
| Share credit | 17 Dec 2024 |
| Listing date | 18 Dec 2024 |
| Mandate end date | 28 Dec 2024 |
| Lock-in end date for anchor investors (50%) | 15 Jan 2025 |
| Lock-in end date for anchor investors (remaining) | 16 Mar 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Sai Life Sciences
Sai Life Sciences Limited, established in 1999, is a contract research, development, and manufacturing organization (CRDMO) providing services in drug discovery, development, and manufacturing. The company offers capabilities in chemistry, manufacturing, and control (CMC) and contract research (CRO) for small-molecule new chemical entities. It serves over 280 pharmaceutical companies and operates globally, with facilities in the US, UK, and India. The company employs over 2,300 scientific staff and has received multiple regulatory approvals from authorities including the USFDA and CDSCO.
Financials of Sai Life Sciences
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹3042.62 crores |
| Fresh Issue | ₹950 crores |
| Offer for Sale | ₹2092.62 crores |
Strengths
- Integrated Indian CRDMO offering discovery, development, and manufacturing services.
- Portfolio includes 50 late-phase and commercial products as of September 30, 2024.
- Diverse mix of commercial drugs and under-development molecules with blockbuster potential.
- CRDMO model enables proximity-based development and manufacturing in India.
- Broad customer base, including top global pharmaceutical companies.
Risks
- Dependence on biotechnology and pharmaceutical customers subject to market and funding risks.
- R&D outcomes may fail to meet customer expectations, leading to project discontinuation.
- Low success rate in drug development impacts overall financial performance.
- Risks from international operations, including delays and regulatory challenges.
- Loss-making subsidiaries may adversely impact overall financials.
- Pricing pressure from customers may affect margins and profitability.
- High working capital requirements could strain financial resources.
- No proceeds from the Offer for Sale portion will benefit the company.
Subscription Figures for Sai Life Sciences
Subscription numbers as of 5:00 PM on 13 Dec 2024:
| Category | Shares Reserved | Shares Bid | Subscription (No. of times) |
|---|---|---|---|
| Qualified Institutional Buyers (QIBs) | 1,06,71,763 | 33,01,25,058 | 30.93 |
| Non Institutional Investors | 84,47,426 | 4,15,17,900 | 4.91 |
| Retail Individual Investors (RIIs) | 1,97,10,659 | 2,67,49,224 | 1.36 |
| Total | 3,88,29,848 | 39,83,92,182 | 10.26 |