Sai Life Sciences IPO: After oversubscribing by over 10 times on its final day, the basis of allotment of Sai Life Sciences IPO is likely to take place on December 16. The IPO received strong demand from qualified institutional buyers (QIBs). The current grey market premium (GMP) of the IPO hints at a single-digit percentage premium listing for Sai Life Sciences on BSE and NSE.
Sai Life Sciences IPO Allotment Status:
Investors can check the allotment status of the IPO through BSE, NSE and registrar KFIN Technologies. The process is through online mode.
To check the allotment status on Kfin Technologies, Click on the link below:
The IPO closed on December 13. On its final day, the IPO was oversubscribed by 10.27 times. The portion reserved for retail and non-institutional investors category bagged full subscriptions of 1.39 times and 4.99 times respectively. Notably, the qualified institutional buyers (QIBs) emerged as top bidders with the category oversubscribing by 29.78 times.
Sai Life Sciences IPO GMP Today:
As per Investor Grain, Sai Life Sciences IPO's last GMP is Rs 42, last updated Dec 14th 2024 10:56 AM. With a price band of 549.00, Sai Life Sciences IPO's estimated listing price is Rs 591 (cap price + today's GMP). The expected percentage gain/loss per share is 7.65%.
Sai Life Sciences IPO Details:
The IPO was a combination of a fresh issue worth Rs 950 crore and an offer for sale (OFS) of up to 3,81,16,934 equity shares. The 100% book building had a price band of Rs 522 to Rs 549 per share. The IPO opened on December 11 and closed on December 13. Kotak Mahindra Capital Company Limited, IIFL Capital Services Limited, Jefferies India Private Limited, and Morgan Stanley India Company Private Limited are book-running lead managers. While KFin Technologies is the registrar of the IPO.
Sai Life Sciences IPO Listing Date:
After the IPO, the basis of allotment is expected to take place on December 16, 2024. Further, the initiation of refunds or credit to eligible shareholders' demat accounts is likely to take place on December 17. The IPO is expected to list on December 18 tentatively. The listing will take place on BSE and NSE.
Sai Life Sciences IPO Review:
As per brokerage Indsec, at an upper price band of Rs 549, the IPO is priced at a P/E of 119.7x/69.9x/53.0x on the FY24/ FY25E/FY26E basis. The company has delivered a Rev/EBITDA/PAT CAGR of 29.8%/ 53.4%/264.7% over FY22-24 respectively clocking an EBITDA margin of 19.5% in FY24. Sai Life Sciences is the fastest-growing Indian CRDMO company among the listed Indian peers (FY22-24 CAGR) with a value chain spanning drug discovery, development, and manufacturing. Its CRDMO platform caters to customers in the intermediate stages of their new drug discovery to commercialization journey. The company has an ROE and ROCE of 8.5% and 11.6%, respectively. It added, "We believe, the Indian CRDMO market is expected to grow at a 14% CAGR from FY23 to FY28, reaching an estimated $14.1 billion and could be played through Sai Life."
Sai Life Sciences is the fastest-growing contract research, development, and manufacturing organisation (CRDMO) among listed Indian peers (in terms of revenue CAGR as well as EBITDA CAGR from FY22 to FY24). As a pure-play, full-service CRDMO, we work with over 280 global innovator pharma and biotech companies to accelerate the discovery, development, and commercialisation of their NCE small molecule programmes.
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