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The scrip was listed at Rs 660, exhibiting a premium of 20.22% to the issue price. So far, the stock has hit a high of 675 and a low of 651.20. On the BSE, over 7.98 lakh shares of the company were traded in the counter so far. The initial public offer (IPO) of Sai Life Sciences was subscribed 10.26 times. The issue opened for bidding on Wednesday (11 December 2024) and it closed on Friday (13 December 2024). The price band of the IPO is fixed at Rs 522'549 per share. The IPO comprised a fresh issue of equity shares worth up to Rs 950 crore and an offer for sale of 3,81,16,934 equity shares aggregating up to Rs 2,092.62 crore by existing shareholders. The promoters and promoter group hold an aggregate of 41.82% of the pre-offer issued and paid-up equity share capital. Their post-IPO shareholding is expected to be around 35.24%. Out of the proceeds from the fresh issue, Rs 720 crore will be used for the repayment/prepayment of all or certain outstanding borrowings, with the remaining amount allocated for general corporate purposes. Ahead of the IPO, Sai Life Sciences on Tuesday, 10 December 2024 raised Rs 912.78 crore from anchor investors. The board allotted 1.66 crore shares at Rs 549 each to 63 anchor investors. Sai Life Sciences is an innovator-focused contract research, development, and manufacturing organization (CRDMO). It 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. The company reported a consolidated net profit of Rs 28.01 crore and net sales of Rs 675.29 crore for the six months ended on 30 September 2024. Powered by Capital Market - Live News |