 "Last day to subscribe Sai Life Sciences IPO: Check GMP, subscription status")
The three-day subscription window to bid for the initial public offer (IPO) of Sai Life Sciences, which has so far received a decent response from investors, is set to close today. The Rs 3,042.62 crore offering of Sai Life Sciences has received bids for 6,45,27,003 shares against 3,88,29,848 shares on offer, as of 12:04 PM on Day 3, as per NSE data. This translates to an oversubscription of 1.66 times.
Notably, the Qualified Institutional Buyers (QIBs) showed the most interest by subscribing to Sai Life Sciences IPO 4.17 times, with bids for 4,44,82,554 shares. Non-Institutional Investors (NIIs) subscribed 1.07 times with bids for 90,39,276 shares, while Retail Individual Investors (RIIs) subscribed 0.56 times with bids for 1,10,05,173 shares. Also Read: Jungle Camps India IPO allotment today
Meanwhile, the unlisted shares of Sai Life Sciences in the grey market, as per sources, were trading at a premium of 3.46 per cent or Rs 19, at Rs 568 per share, compared to the upper end of the IPO price band of Rs 549 per share.
Sai Life Sciences IPO, which opened for subscription on Wednesday, December 11, 2024, comprises 17.3 million fresh shares aggregating to Rs 950 crore and an offer for sale (OFS) of 38.1 million shares aggregating to Rs 2,092.62 crore.
The basis for the allotment of Sai Life Sciences IPO shares is expected to be finalised on Monday, December 16, 2024, with shares credited to investors' demat accounts by Tuesday, December 17, 2024. Shares of Sai Life Sciences are tentatively scheduled to list on the bourses on Wednesday, December 18, 2024.
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KFin Technologies is the registrar for the IPO, while the book-running lead managers for the public issue include Kotak Mahindra Capital, Jefferies India, Morgan Stanley India, and IIFL Securities.
The company plans to utilise the net proceeds from the fresh issue towards funding the repayment or prepayment (in full or part) of certain outstanding borrowings and for general corporate purposes.
About Sai Life Sciences
Sai Life Sciences provides customised services to biotech firms and global pharmaceutical companies. The company focuses on researching, developing, and manufacturing small-molecule new chemical entities.