Sai Life Sciences Shares Climb Over 20% In Debut Trade – News18
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Shares of Sai Life Sciences listed with a premium of more than 20% over the issue price of Rs 549 on Wednesday.
At the NSE, shares of the firm began the day at Rs 650, up 18.39 per cent.
Shares of Sai Life Sciences Ltd. made a strong debut on the stock market, listing with a premium of over 20% above the issue price of Rs 549 on Wednesday.
Stock Performance on BSE and NSE
On the BSE, the stock opened at Rs 660, marking a 20.21% rise from the issue price, and later surged to Rs 702, a 27.86% gain. On the NSE, shares started at Rs 650, reflecting an 18.39% increase from the issue price.
Market Capitalization
The company’s market capitalization stood at Rs 14,493.75 crore after the listing.
IPO Subscription and Details
Sai Life Sciences Ltd.’s Rs 3,043-crore initial public offering (IPO) was oversubscribed by 10.26 times on the final day of the share sale.
The IPO had a price band of Rs 522-549 per share, with a fresh issue of equity shares worth Rs 950 crore and an Offer-for-Sale (OFS) of 3.81 crore shares, valued at Rs 2,092 crore, by promoters, investors, and other shareholders.
Use of IPO Proceeds
Of the funds raised, Rs 600 crore will be used for debt repayment, with the remainder allocated for general corporate purposes.
Company Overview
Based in Hyderabad, Sai Life Sciences provides end-to-end services across the drug discovery, development, and manufacturing value chain for small molecule new chemical entities (NCEs) to global pharmaceutical and biotechnology firms.
