Sai Life Sciences IPO
Sai Life Sciences IPO — date, price band, lot size & details 2024
Sai Life Sciences listed on 18 Dec 2024 at ₹650, 18.4% above the ₹549 issue price.
Sai Life Sciences is a pure-play, innovator-focused contract research, development and manufacturing organisation for small molecule drugs. Its total income was Rs 1,494.27 crore in FY2024.
Stock price
Sai Life Sciences is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 14 November.
- Open 11 Dec 2024
- Close 13 Dec 2024
- Allotment 16 Dec 2024
- Refund/credit 17 Dec 2024
- Listing 18 Dec 2024
Issue summary
The terms of the offer, as filed.
| IPO Dates | 11 to 13 Dec, 2024 |
|---|---|
| Price Band | ₹522 – ₹549 |
| Face Value | ₹1 |
| Lot Size | 27 Shares |
| Issue Size | ₹3042.62 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,823 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 27 shares at the ₹549 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 27 | ₹14,823 |
| Retail (max) | 13 | 351 | ₹1,92,699 |
| S-HNI (min) | 14 | 378 | ₹2,07,522 |
| S-HNI (max) | 67 | 1,809 | ₹9,93,141 |
| B-HNI (min) | 68 | 1,836 | ₹10,07,964 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 897.74 crore in FY2022 to Rs 1,494.27 crore in FY2024.
- 02Profit after tax rose from Rs 9.99 crore in FY2023 to Rs 82.81 crore in FY2024.
- 03Rs 950.00 crore of the issue was fresh capital, mostly for repaying debt.
- 04It serves global drug innovators across discovery, development and manufacturing, and has operated since 1999.
- 05Net worth was Rs 1,044.75 crore on 30 September 2024.
Risks · 5
- 01The pre-issue P/E was 126.42 at the upper band of Rs 549, based on EPS of Rs 4.34.
- 02Margins are thin, and the source puts the PAT margin at 5.65%.
- 03Total borrowing was Rs 764.49 crore on 30 September 2024.
- 04CRDMO income depends on client pipelines and global biotech funding, and Rs 2,092.62 crore of the issue was offer for sale.
- 05Promoters held only 41.82% before the issue and 35.24% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Sai Life Sciences offer document.
| Metric | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 2,476.78 | 2,275.14 | 2,186.65 | 2,164.23 |
| Total Income | 693.35 | 1,494.27 | 1,245.11 | 897.74 |
| Profit After Tax | 28.01 | 82.81 | 9.99 | 6.23 |
| NET Worth | 1,044.75 | 974.34 | 887.29 | 877.76 |
| Total Borrowing | 764.49 | 710.16 | 699.23 | 751.32 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Sai Life Sciences RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Sai Life Sciences IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹4.34 | ₹2.69 |
| P/E Ratio (x) | 126.42 | 203.82 |
| Market Cap at Offer Price (₹ Cr) | ₹3,543.20 | ₹5,716.54 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹549 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹918.98 Cr of the issue is earmarked to named objects.
Sai Life Sciences IPO Anchor Investors
63 anchor investors across 39 fund houses committed ₹912.79 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
It provides end-to-end services across drug discovery, development and manufacturing for small molecule new chemical entities, serving global pharmaceutical innovators and biotech firms. It has both discovery and contract research and CMC and CDMO capabilities.
Its promoters include Kanumuri Ranga Raju, Krishnam Raju Kanumuri, Kanumuri Mytrey and Sai Quest Syn.
The IPO was Rs 3,042.62 crore, with Rs 950.00 crore of fresh issue and Rs 2,092.62 crore of offer for sale, mostly by TPG and HBM investors, with Sai Quest Syn also selling. Fresh money was mainly planned for repaying borrowings.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Sai Life Sciences IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Kotak Mahindra Capital Company Limited
204 issues handledBest listing: Premier Energies (+120.0%). Weakest: Puravankara Projects (-22.5%).
Jefferies India Private Limited
41 issues handledBest listing: Nazara Technologies (+80.7%). Weakest: Turtlemint Fintech Solutions (-10.4%).
IIFL Capital Services Limited
146 issues handledBest listing: Unicommerce eSolutions (+117.6%). Weakest: ICICI Securities (-16.3%).
Morgan Stanley India Co. Pvt. Ltd
36 issues handledBest listing: Nykaa (+79.4%). Weakest: KSK Energy Ventures (-12.5%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Sai Life Sciences?
The current Grey Market Premium is ₹70, or 13% over the issue price.
What is the Sai Life Sciences IPO price band?
₹522 to ₹549, on a face value of ₹1.
When is the allotment?
The basis of allotment is 16 December 2024, with listing on 18 December 2024.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
