The Sai Life Sciences IPO continues to attract attention as it enters the second day of public subscription on Thursday, December 12. This Initial Public Offering (IPO) has generated strong interest from investors, with key updates and figures highlighting its performance so far. Let’s break it down in simple terms.
Key Details of Sai Life Sciences IPO
- Price Band: The IPO is priced between ₹522 and ₹549 per share.
- Lot Size: Investors have the option to bid in multiples of 27 shares. Retail investors need to make a minimum investment of ₹14,823.
- IPO Size: The total size of the IPO is ₹3,043 crore. This involves a new issue of ₹950 crore along with an Offer for Sale (OFS) of 3.81 crore shares by the promoters and existing shareholders.
- Anchor Investment: Ahead of the IPO, the company raised ₹913 crore from anchor investors.
The IPO started on December 11, 2024, and will close for subscription on December 13, 2024.
Day 2 Subscription Update
The Sai Life Sciences IPO has been oversubscribed by 1.05 times. Here’s a breakdown:
- Retail Investors: The retail portion has received 0.35 times subscription.
- Non-Institutional Investors (NIIs): Subscriptions in this category are at 0.36 times.
- Qualified Institutional Buyers (QIBs): The QIB segment has shown the strongest response, with 2.89 times subscription.
On the first day, the IPO had an overall subscription of 0.84 times, indicating a growing interest among investors.
The grey market premium (GMP) for the Sai Life Sciences IPO is currently around ₹40. At the upper price band of ₹549, the expected listing price is ₹589 per share. This indicates a 7.3% premium over the issue price, reflecting positive investor sentiment.
Key Dates to Remember
- Allotment Date: The company is expected to finalize the share allotment by December 16.
- Listing Date: The shares are expected to list on the NSE and BSE on December 18, 2024.
Refunds for ineligible applicants and the credit of shares to demat accounts will take place on December 17.
The Sai Life Sciences IPO offers an exciting opportunity for investors who believe in the growth of India’s pharmaceutical and biotech industries. While it has strong fundamentals, investors should consider risks like high valuation and regulatory uncertainties before making their decision.
