Sai Life Sciences IPO opens next week. GMP, price band, date, valuation, other details of upcoming IPO in 10 points

The initial public offering (IPO) of Sai Life Sciences, a prominent player in small-molecule drug development and manufacturing, is scheduled to open on Wednesday, December 11, 2024, and close on Friday, December 13, 2024. The IPO consists of a fresh issue worth ₹950 crore and an offer for sale (OFS) of 3.81 crore shares, bringing the total issue size to approximately ₹2,940-3,043 crore.

Founded in January 1999, Sai Life Sciences Limited collaborates with leading pharmaceutical and biotechnology companies, offering services in drug discovery, development, and the manufacturing of small-molecule new chemical entities (NCEs). As a contract research, development, and manufacturing organization (CRDMO), the company leverages its expertise to address critical challenges in healthcare.

Sai Life Sciences IPO Details

1. Sai Life Sciences IPO structure: According to the Red Herring Prospectus (RHP), the IPO includes a fresh issuance of equity shares valued at ₹950 crore, along with an Offer for Sale (OFS) comprising up to 3.81 crore equity shares, which will be offloaded by promoters, investor shareholders, and other existing shareholders.
2. Sai Life Sciences IPO GMP: Sai Life Sciences shares are trading in the grey market ahead of the IPO. As of December 7, 2024, at 2:01 pm, the Sai Life Sciences IPO GMP is ₹41, suggesting an estimated listing price of ₹590 per share. This indicates an expected percentage gain of 7.47%.

• Sai Life Sciences IPO Price Band: The company has fixed price band of the upcoming IPO at Rs 522 to ₹549 per equity share.
• Sai Life Sciences IPO Opening Date: The IPO opens for subscription on December 11 and closes on December 13, 2024.
• Sai Life Sciences IPO Size: A combination of a ₹950 crore fresh issue and 3.81 crore shares under OFS, with a total size of ₹2,940-3,043 crore.
• Sai Life Sciences IPO Lot Size: One lot comprises 27 shares.
• Sai Life Sciences IPO Allotment Date: The likely date for share allotment is Monday, December 16, 2024. Refunds for unsuccessful bids may be processed by Tuesday, December 17, 2024, and shares are expected to be credited to successful bidders' accounts on the same day.

• Sai Life Sciences IPO Listing Date: The company's shares are expected to list on the BSE and NSE on Wednesday, December 18, 2024.
• Sai Life Sciences IPO Lead Managers: Kotak Mahindra Capital, IIFL Capital Services, Jefferies India, and Morgan Stanley India have been appointed as the book-running lead managers for the issue.
• Sai Life Sciences IPO Registrar: KFin Technologies Limited is the official registrar for this IPO.

Sai Life Sciences Financials and Business Overview

According to the company’s Red Herring Prospectus (RHP), Sai Life Sciences offers "end-to-end services across the drug discovery, development, and manufacturing value chain for small-molecule new chemical entities (NCE)." The company works with global pharmaceutical and biotech innovators, boasting over 170 pharmaceutical products in its portfolio, including 38 products for manufacturing 28 commercial drugs.

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