Sai Life Sciences IPO Gains Strong Investor Interest

The initial public offering of Sai Life Sciences Ltd was oversubscribed on the second day. The Rs 3,043 crore IPO received 1.25 times the subscriptions with strong interest from institutional buyers. Proceeds aim to reduce debt and support corporate strategies, with shares to list on the BSE and NSE.

The IPO of Sai Life Sciences Ltd witnessed significant investor interest, with subscriptions reaching 1.25 times the available shares by Thursday. This strong performance highlights the company's appeal among investors, particularly qualified institutional buyers.

The offering, priced between Rs 522-549 per share, attracted the most interest from institutional investors, who subscribed at over three times the available shares. Non-institutional and retail investors offered comparatively less demand but still boosted overall subscriptions.

Backed by private equity giant TPG Capital, Sai Life Sciences plans to apply Rs 600 crore from the IPO towards debt repayment and general corporate purposes, reflecting its continued commitment to strengthening its financial standing and growth capabilities.

(With inputs from agencies.)