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Sai Life Sciences IPO is a book-built issue of Rs 3,042.62 crores. The issue is a combination of a fresh issue of 1.73 crore shares aggregating to Rs 950.00 crores and an offer for sale of 3.81 crore shares aggregating to Rs 2,092.62 crores.
The IPO opens for subscription on December 11, 2024, and closes on December 13, 2024. The price band for the IPO is set at ₹522 to ₹549 per share and the minimum lot size for an application is 27 Shares.
Company Summary
Incorporated in January 1999, Sai Life Sciences Limited researches, develops, and manufactures small-molecule new chemical entities. The company offers tailor-made services to biotech firms and global pharma companies.
In the Financial Year 2024 and for the month ending September 30, 2024, the company provided services to over 280 innovator pharmaceutical companies, including more than 230 in that month alone. Among these clients, the company worked with 18 of the top 25 pharmaceutical companies based on their revenue in the calendar year 2023. The services were offered across countries such as the US, the UK, Europe, and Japan.
The company’s business development team consists of 16 experienced and qualified professionals, with six located in the US, nine in the UK and Europe, and one in Japan.
The company has the following service offerings.
- Capabilities in chemistry, manufacturing, and control(“CMC”)/contract development and manufacturing organizations (“CDMO”).
- CRO services include integrated discovery (“Discovery”) capabilities across biology, chemistry, drug metabolism and pharmacokinetics
As of September 30, 2024, the company had 2,353 scientific staff, with the majority of the scientific team holding advanced degrees, including 302 Ph. D.s and 1,475 master’s degrees.
As of September 30, 2024, the company had 3135 employees with capabilities across the CRDMO value chain.
Company Strengths
- As an integrated CRDMO, the company provides a complete platform for discovery, development, and manufacturing.
- CRO services include integrated discovery capabilities across biology, chemistry, and drug metabolism and pharmacokinetics.
- CDMO platform with a diverse mix of commercial and under-development molecules.
Company Financials
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 2,476.78 | 2,275.14 | 2,186.65 | 2,164.23 |
| Revenue | 693.35 | 1,494.27 | 1,245.11 | 897.74 |
| Profit After Tax | 28.01 | 82.81 | 9.99 | 6.23 |
| Net Worth | 1,044.75 | 974.34 | 887.29 | 877.76 |
| Reserves and Surplus | 1,025.44 | 953.99 | 867.43 | 859.17 |
| Total Borrowing | 764.49 | 710.16 | 699.23 | 751.32 |
Amount in ₹ Crore | ||||
Objectives of the IPO
The company proposes to utilize the Net Proceeds towards funding the following objects:
1. Repayment/prepayment in full or part, of all or certain outstanding borrowings availed by the Company and
2. General corporate purposes.
Promoters of the company
The Promoters of our Company are:
- Kanumuri Ranga Raju;
- Krishnam Raju Kanumuri;
- Kanumuri Mytreyi;
- Sai Quest Syn Private Limited;
- Marigold Partners;
- Sunflower Partners;
- Tulip Partners; and
- Lily Partners.
IPO details
| IPO Date | December 11, 2024 to December 13, 2024 |
| Listing Date | Wednesday, December 18, 2024 |
| Face Value | ₹1 per share |
| Price Band | ₹522 to ₹549 per share |
| Lot Size | 27 Shares |
| Total Issue Size | 55,421,123 shares (aggregating up to ₹3,042.62 Cr) |
| Fresh Issue | 17,304,189 shares (aggregating up to ₹950.00 Cr) |
| Offer for Sale | 38,116,934 shares of ₹1 (aggregating up to ₹2,092.62 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Lot Allocation details
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 27 | ₹14,823 |
| Retail (Max) | 13 | 351 | ₹192,699 |
| S-HNI (Min) | 14 | 378 | ₹207,522 |
| S-HNI (Max) | 67 | 1,809 | ₹993,141 |
| B-HNI (Min) | 68 | 1,836 | ₹1,007,964 |
Allotment Schedule
| Basis of Allotment | Monday, December 16, 2024 |
| Initiation of Refunds | Tuesday, December 17, 2024 |
| The credit of Shares to Demat | Tuesday, December 17, 2024 |
| Listing Date | Wednesday, December 18, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 13, 2024 |
IPO Reservation
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
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