Sai Life Sciences IPO: A Powerhouse Subscription Surge

Sai Life Sciences Ltd's Rs 3,043-crore IPO saw a remarkable 10.26 times subscription on the final day. The company's shares received bids far surpassing the 3.88 crore shares available, with significant interest from institutional and individual investors. Funds will aid debt repayment and corporate purposes.

Sai Life Sciences Ltd's initial public offering (IPO), valued at Rs 3,043 crore, concluded with an overwhelming response, securing a 10.26 times subscription by Friday's close.

Data from the National Stock Exchange indicates that the IPO received bids for an impressive 39.85 crore shares against the 3.88 crore shares on offer, reflecting strong market interest. The subscription was led by Qualified Institutional Buyers (QIBs), who subscribed 30.93 times the shares allotted to them. Non-institutional investors and Retail Individual Investors (RIIs) followed with 4.92 and 1.37 times subscriptions, respectively.

Backed by TPG Capital, the Hyderabad-based company amassed Rs 913 crore from anchor investors ahead of the IPO. Sai Life Sciences plans to utilize Rs 600 crore of the IPO proceeds for debt repayment, with additional funds earmarked for corporate purposes. The fresh issue includes equity shares worth Rs 950 crore, alongside an offer-for-sale valued at Rs 2,092 crore.

(With inputs from agencies.)