Hyderabad based Lifesciences Company Sai Life Sciences files DRHP with SEBI for the proposed IPO; Key Details here

Sai Life Sciences is into Healthcare & Pharmaceuticals Lifesciences and is looking raise funds through Fresh Issue and Offer For Sale

Sai Life SciencesIPO: Fresh Issue of Equity shares aggregating up to Rs.800 crores. Offer of Sale of 61,573,120 Equity Shares through public issue IPO

Sai Life Sciences IPO: Sai Life Sciences Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 1 per share via initial public offering.

Promoters of Sai Life Sciences are Kanumuri Ranga Raju, Krishnam Raju Kanumuri, Kanumuri Mytreyi, Sai Quest Syn Private Limited, Marigold Partners, Sunflower Partners, Tulip Partners and Lily Partners. and holds 39.64% stake in the company.

Key Details:

• Initial Public Offer comprising of a Fresh Issue aggregating up to Rs. 800 crores and an Offer for Sale of Up to 61,573,120 Equity Shares.
• Kotak Mahindra Capital, IIFL Capital, Jefferies India, Morgan Stanley have been appointed as lead merchant bankers for the proposed IPO.
• It has appointed KFin Technologies Ltd. as Registrar and Share transfer Agent.
• Company is yet to finalize issue size and some other important details relating to the IPO.

Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue aggregating Rs. 800 Crs and offer-for-sale (OFS) of up to 61,573,120 equity shares by OFS consists of upto Up to 6,454,780 Equity Shares is from Promoter and Promoters Group Selling Shareholders...

ALSO READ: Gurugram based Fintech Company Mobikwik files DRHP with SEBI for the proposed IPO; Key Details here

Objects of the issue:
1) Rs 600 cr towards debt repayment / pre-payment, and 2) General corporate purpose.

About Company:
Established in 1999, Sai Life Sciences is innovator-focused CRDMO and provide end-to-end services across the drug discovery, development and manufacturing value chain, for small molecule NCE to global pharmaceutical innovators companies and biotechnology firms. It possess both (a) discovery / contract research and (b) CMC / CDMO capabilities.

ALSO READ: Gurugram based Retail Chain Company Vishal Mega Mart files DRHP with SEBI for the proposed IPO; Key Details here

About Industry:
The global small molecule CRDMO industry size is expected to expand at a CAGR of 7.0% from 2023-2028. The global small molecule CRDMO industry is expected to reach USD159 billion by 2028F, comprising c.53% of the overall CRDMO industry globally. Key drivers for this growth are increasing pharmaceutical and biotech R&D outsourcing, continued demand for small molecules, and growing demand for cost-effective drugs. (Source: F&S Report). India's CRDMO market has undergone significant expansion in recent years. The India CRDMO market was amongst the fastest growing markets in APAC over 2018-2023. This growth is expected to continue, with Indian market projected to grow by 14.0% between 2023 and 2028, faster than the growth of the APAC market and the global CRDMO market, reaching an estimated value of USD14.1 billion in 2028.

Source: SEBI, BSE, NSE, DRHP, Sai Life Sciences, Industry Data

Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.