Sai Life Sciences Block Deal: TPG Likely To Exit Via Rs 2,640-Crore Stake Sale

US private equity firm TPG, a prominent public shareholder of Sai Life Sciences Ltd., is likely to exit the company in a bulk deal worth Rs 2,640 crore, according to a term sheet accessed by NDTV Profit.

TPG affiliate TPG Asia VII SF Pte will sell 14.72% of its entire shareholding in the company for Rs 860 per equity share, which is at a 5.2% discount to last closing price on the NSE.

IIFL Capital Services Ltd., Kotak Securities Ltd. and Jefferies India Pvt. are the bookrunners for the deal.

The public shareholder owned 24.73% stake in the company, as per BSE data recorded until March 31, 2025. However, it offloaded 10% of its shares at Rs 722 per piece. This was after 48% equity of Sai Life Sciences became eligible for trade as the six-month lock-in period ends for shareholders, as per Nuvama's report.

Sai Life Sciences is an innovator-focused contract research, development, and manufacturing organisation based in Hyderabad.

The company offers comprehensive end-to-end services across the entire drug discovery, development and manufacturing value chain. Specialising in small molecule new chemical entities, Sai Life Sciences caters to global pharmaceutical and biotechnology companies.

The business update was shared aftermarket hours. The stock settled 2.05% lower at Rs 906.95 apiece on the NSE, compared to a 0.39% advance in the benchmark Nifty 50.

Sai Life Sciences' shares have risen 20.73% so far this year. The average 12-month consensus price target of Rs 987.25 implies an upside of 8.9%.