The share price of Sai Life Sciences Ltd. ended on the BSE on Wednesday at Rs 768.4 apiece, a premium of 39.9% over the issue price of Rs 549 apiece.
The stock closed at Rs 768 per share on the National Stock Exchange, marking a premium of 39.8%.
The scrip listed on the BSE at a premium of 20.2% over the issue price of Rs 549 apiece and debuted on the NSE at a premium of 18.4%.
The Rs 3,042-crore initial public offering was subscribed 10.26 times on its final day. The bids were led by qualified institutional buyers (30.93 times), followed by non-institutional investors (4.92 times) and retail investors (1.37 times).
The IPO included a fresh issue of 1.73 crore shares worth Rs 950 crore and an offer for sale of 3.81 crore shares. Of the IPO proceeds, funds will be used for debt payment, and a portion will be used for corporate general purposes.
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.
With expertise in both contract research and chemistry, manufacturing, and control, the company excels in providing integrated solutions for drug discovery, development, and manufacturing, supporting innovators in the pharmaceutical industry.
As of March 31, 2024, their company's CDMO product portfolio included more than 150 innovator pharmaceutical products, including 38 products that were supplied for the manufacturing of 28 commercial drugs.
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