Fri Dec 13 04:40:00 UTC 2024: ## Sai Life Sciences IPO Oversubscribed on Day Two

**Mumbai, December 12, 2024** – The initial public offering (IPO) of Hyderabad-based Sai Life Sciences has been fully subscribed on its second day of bidding. The ₹3,042.62 crore IPO, which closes on December 13th, received bids for 39,128,724 shares against 38,829,848 shares on offer, resulting in a subscription level of 1.01 times by 2 pm.

The IPO comprises a fresh issue of equity shares worth ₹950 crore and an offer-for-sale (OFS) of ₹2,092 crore. Promoter entity Sai Quest Syn Pvt Ltd, along with investors HBM Private Equity India and TPG Asia VII SF Pte Ltd, are partly divesting their stakes through the OFS. Prior to the IPO, Sai Life Sciences secured ₹913 crore from anchor investors, including several prominent global and Indian investment firms.

Proceeds from the IPO will be utilized to repay debt and for general corporate purposes. Sai Life Sciences, backed by TPG Capital, provides end-to-end services in drug discovery and manufacturing for global pharmaceutical and biotechnology companies. The IPO price range is ₹522-₹549 per share, with a minimum bid of 20 shares (₹14,823 investment).

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