The bidding for the Sai Life Sciences initial public offering (IPO) will begin on Wednesday, December 11, and the subscription will close on Friday, December 13. On Monday, the TPG-backed company's unlisted shares were trading at a decent premium in the grey market.
Sai Life Sciences IPO GMP
The grey market premium (GMP) of Sai Life Sciences IPO of Rs 35 or 6.38% per share against the upper end of the IPO price of Rs 549, according to the trading app Groww. At the upper end, Sai Life Sciences seeks to raise Rs 3,042.62 crore from the public offering, which comprises a fresh issue of up to 17,304,189 equity shares and an offer for sale of up to 38,116,934 equity shares, each with a face value of Re 1.
Also Read | Vishal Mega Mart IPO: Check Latest GMP and Other Key Details of Rs 8,000 Crore Issue.
Bidding for anchor investors is scheduled to take place on Tuesday, December 10, 2024. Sai Life Sciences IPO will be available at share price of Rs 522-549 per share, with a minimum lot size of 27 shares. Accordingly, investors can bid for a minimum of 27 shares and in multiples thereof.
A retail investor would require a minimum of Rs 14,823 to bid for one lot or 27 shares of Sai Life Sciences IPO. For a maximum bid under Rs 2,00,000, retail investors can apply for up to 13 lots, totalling 351 shares. The IPO will close for public subscription on Friday, December 13. After the closing of the bidding window, the basis of allotment for IPO shares is expected on December 17. Sai Life Sciences shares are expected to be listed on the BSE and NSE on Wednesday, December 18, 2024.
About Sai Life Sciences:
The firm is a contract research, development, and manufacturing organisation (CRDMO) backed by the private equity giant TPG Capital. It offers comprehensive services throughout the entire drug discovery, development, and manufacturing process for small-molecule new chemical entities (NCE) to pharmaceutical innovator companies and biotechnology firms worldwide.