Sai Life Sciences IPO Price: ₹522 to ₹549 per share
IPO Dates: 11 December 2024 – 13 December 2024
Company Overview
Sai Life Sciences Limited, established in January 1999 as ‘Sai Dru Syn Laboratories Ltd,’ has undergone several name changes over the years, ultimately adopting its current name in May 2012. The company operates as a fully integrated, innovator-focused contract research, development, and manufacturing organization (CRDMO). It provides comprehensive services across the drug discovery, development, and manufacturing value chain for small-molecule new chemical entities (NCEs).
Key Milestones in Corporate Evolution
- 1999: Incorporated as Sai Dru Syn Laboratories Ltd in Hyderabad, Telangana.
- 2003: Renamed as Sai Life Sciences Ltd.
- 2006: Rebranded to Sai Advantium Pharma Ltd.
- 2012: Final name change back to Sai Life Sciences Ltd.
Core Services and Capabilities
Sai Life Sciences serves global pharmaceutical innovators and biotechnology firms, offering:
- Contract Research Organization (CRO) Services: Integrated discovery capabilities in biology, chemistry, and drug metabolism and pharmacokinetics (DMPK).
- Contract Development and Manufacturing Organization (CDMO) Services: Chemistry, manufacturing, and control (CMC) capabilities with a mix of commercial and under-development molecules.
The company’s infrastructure includes research laboratories in Watertown (Greater Boston, MA) and Manchester, UK, along with cost-efficient manufacturing facilities in India.
Clientele and Market Presence
Sai Life Sciences has cemented its reputation as a reliable partner for pharmaceutical and biotechnology innovators. During the Financial Year 2024, the company served over 280 pharmaceutical innovators and 230 biotechnology firms. Notably, it collaborated with 18 of the top 25 global pharmaceutical companies based on 2023 revenues. Its operations extend across regulated markets such as the United States, the United Kingdom, Europe, and Japan, showcasing its global reach and compliance with stringent industry standards.
Workforce and Expertise
As of September 30, 2024, Sai Life Sciences employed 3,135 individuals, including 2,353 scientific staff with advanced qualifications. This includes 302 Ph.D. holders and 1,475 professionals with master’s degrees, underscoring the company’s commitment to expertise-driven innovation. The business development team, comprising 16 seasoned professionals, is strategically located worldwide, with six members in the United States, nine in the United Kingdom and Europe, and one in Japan, ensuring close collaboration with clients in key markets.
Competitive Strengths
Sai Life Sciences differentiates itself through:
- Integrated CRDMO Platform: Acting as a one-stop solution for discovery, development, and manufacturing.
- Advanced R&D Infrastructure: Modern facilities and a robust regulatory compliance track record.
- Customer Relationships: Strong and long-standing relationships with a diverse client base.
- Talent Pool and Leadership: A skilled management team and a highly qualified scientific workforce.
- Global Reach: Strategic presence near innovation hubs complemented by cost-effective Indian facilities.
- Growth and Profitability: Strategic investments contributing to improved profitability metrics.
Sai Life Sciences is among the largest integrated CRDMOs in India, showcasing a balanced mix of commercial and under-development projects, and positioning itself as a leader in pharmaceutical innovation and manufacturing.
Bidding Starts In
Sai Life Sciences IPO Specifics:
| IPO Date | December 11, 2024 to December 13, 2024 |
| Listing Date | Wednesday, December 18, 2024 |
| Face Value | ₹1 per share |
| Price Band | ₹522 to ₹549 per share |
| Lot Size | 27 Shares |
| Total Issue Size | 55,421,123 shares (aggregating up to ₹3,042.62 Cr) |
| Fresh Issue | 17,304,189 shares (aggregating up to ₹950.00 Cr) |
| Offer For Sale | 38,116,934 shares (aggregating up to ₹2,092.62 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 190,685,340 |
| Share holding post issue | 207,989,529 |
Sai Life Sciences IPO Timetable (Important Dates)
| IPO Open Date | Wednesday, December 11, 2024 |
| IPO Close Date | Friday, December 13, 2024 |
| Basis of Allotment | Monday, December 16, 2024 |
| Initiation of Refunds | Tuesday, December 17, 2024 |
| Credit of Shares to Demat | Tuesday, December 17, 2024 |
| Listing Date | Wednesday, December 18, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 13, 2024 |
Sai Life Sciences IPO Lot Size
Bidders have the opportunity to bid for a minimum of 27 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| 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 |
Sai Life Sciences IPO Reservation
| QIB Shares Offered | Not more than 50% of the Net offer |
| Retail Shares Offered | Not less than 35% of the Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Offer |
Sai Life Sciences Limited IPO Financial Information
Sai Life Sciences Limited saw a 20% growth in its revenue and a substantial 729% surge in profit after tax (PAT) from the fiscal year ending on March 31, 2023, to March 31, 2024.
| Period Ended | 31 Mar 2022 | 31 Mar 2023 | 31 Mar 2024 | 30 Sept 2024 |
|---|---|---|---|---|
| Assets | 2164.23 | 2186.65 | 2275.14 | 2476.78 |
| Revenue | 897.74 | 897.74 | 1494.27 | 693.35 |
| Profit After Tax | 6.23 | 6.23 | 82.81 | 28.01 |
| Net Worth | 877.76 | 877.76 | 974.34 | 1044.75 |
| Reserves and Surplus | 859.17 | 859.17 | 953.99 | 1025.44 |
| Total Borrowing | 751.32 | 751.32 | 710.16 | 764.49 |
Key Performance Indicator – Sai Life Sciences IPO
| KPI | Values |
|---|---|
| Market Cap. | ₹ 11,418.63 Cr |
| EPS | ₹4.34 |
| P/E (x) | 126.42 |
| ROE | 11.79% |
| ROCE | 15.96% |
| RoNW | 8.13% |
| P/BV | 10.18 |
Objects of the Issue:
The company intends to utilize the Net Proceeds for the following purposes:
- Repayment or prepayment of certain outstanding borrowings, either in full or in part.
- General corporate purposes.
Prospectus Links:
Prospectus: Official documents that provide detailed information about the IPO and the company.
