Sai Life Sciences is the fastest-growing contract research, development, and manufacturing organisation (CRDMO) among listed Indian peers (in terms of revenue CAGR as well as EBITDA CAGR from FY22 to FY24). As a pure-play, full-service CRDMO, they work with over 280 global innovator pharma and biotech companies to accelerate the discovery, development, and commercialisation of their NCE small molecule programmes.

Sai Life Sciences, an Book Built Issue amounting to ₹3,042.62 Crores, consisting an Fresh Issue of 173.04 Lakh Shares worth ₹950.00 Crores and an Offer for Sale of 381.16 Lakh Shares totalling to ₹2,092.62 Crores. The subscription period for the Sai Life Sciences IPO opens on December 11, 2024, and closes on December 13, 2024. The allotment is expected to be finalized on or about Monday, December 16, 2024, and the shares will be listed on the BSE & NSE with a tentative listing date set on or about Wednesday, December 18, 2024.

The Share price band of Sai Life Sciences IPO is set at ₹522 to ₹549 per equity share. The Market Capitalisation of the Sai Life Sciences Limited at IPO price of ₹549 per equity share will be ₹11,418.62 Crores. The lot size of the IPO is 27 shares. Retail investors are required to invest a minimum of ₹14,823, while the minimum investment for High-Net-Worth Individuals (HNIs) is 14 lots (378 shares), amounting to ₹2,07,522.

Kotak Mahindra Capital Company Limited, IIFL Capital Services Limited, Jefferies India Private Limited and Morgan Stanley India Company Private Limited are the book-running lead manager while Kfin Technologies Limited is the registrar for the Issue.

Sai Life Sciences Limited IPO GMP Today
The Grey Market Premium of Sai Life Sciences Limited IPO is expected to be ₹48 based on the financial performance of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only.

Sai Life Sciences Limited Day Wise IPO GMP Trend

Date	IPO Price	Expected Listing Price	GMP	Last Updated
13 December 2024	₹ 549	₹ 597	₹ 48 (8.66%)	02:30 PM; 13 Dec 2024
12 December 2024	₹ 549	₹ 597	₹ 48 (8.66%)	06:00 PM; 12 Dec 2024
11 December 2024	₹ 549	₹ 597	₹ 48 (8.66%)	06:00 PM; 11 Dec 2024
10 December 2024	₹ 549	₹ 597	₹ 48 (8.66%)	06:00 PM; 10 Dec 2024
09 December 2024	₹ 549	₹ 597	₹ 48 (8.66%)	06:00 PM; 09 Dec 2024
06 December 2024	₹ 549	₹ 549	₹ 0	07:00 PM; 06 Dec 2024
05 December 2024	₹ 549	₹ 549	₹ 0	07:00 PM; 05 Dec 2024

Sai Life Sciences Limited IPO Live Subscription Status Today: Real-Time Updates
As of 07:00 PM on 13 December 2024, the Sai Life Sciences IPO live subscription status shows that the IPO subscribed 10.26 times on its Final day of subscription period. Check the Sai Life Sciences IPO Live Subscription Status Today at BSE.

Sai Life Sciences IPO Anchor Investors Report
Sai Life Sciences has raised ₹912.79 Crores from Anchor Investors at a price of ₹549 per shares in consultation of the Book Running Lead Managers. The company allocated 1,66,26,336 equity shares to the Anchor Investors. Check Full List of Sai Life Sciences Anchor Investor List.

Note:- Equity Shares allotted to Anchor Investors (if any) are allotted from Qualified Institutional Buyers (QIBs) reservation portion.
Note:- The Number of shares offered shown IPO subscription section table is calculated at the lower end of the price band and Number of shares calculated in IPO details table section is calculated at upper end of the price band in case of Book Building Issue, so there can be difference. This is because we assume shares will be issued by the company at upper band as Anchor Investors also subscribe at upper band and shares will be issued at lower band only if in case of undersubscription of IPO.
Note:- Market Maker portion (if any) are not shown separately in subscription table and included in NIIs reservation portion.

Sai Life Sciences Limited IPO Allotment Date - Step by Step Guide to Check Allotment Status Online
Sai Life Sciences IPO allotment date is 16 December, 2024, Monday. Sai Life Sciences IPO Allotment will be out on 16th December 2024 and will be live on Registrar Website from the allotment date. Check Sai Life Sciences IPO Allotment Status here. Here's how you can check the allotment status:
- Navigate to the IPO allotment status page.
- Select Sai Life Sciences Limited IPO from the dropdown list of IPOs.
- Enter your application number, PAN, or DP Client ID.
- Submit the details to check your allotment status.
By following either of these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.

Objectives of Sai Life Sciences Limited IPO
Sai Life Sciences Issue Proceeds from the Fresh Issue will be utilized towards the following objects : 
1. ₹7,200.00 Million is required for Repayment/prepayment, in full or part, of all or certain outstanding borrowings availed by the Company; and
2. General corporate purposes.

Refer to Sai Life Sciences Limited RHP for more details about the Company.

Check latest IPO Review & analysis, Live IPO GMP today, Live IPO Subscription Status Today, Share Price, Financial Information and other details before applying in the IPO.

The Upcoming IPOs in this week and coming weeks are Dhanlaxmi Corp, Jungle Camps, Toss The Coin, Sai Life Sciences, Mobikwik, Vishal Mega Mart, Supreme Facility, Purple United, Rosmerta Digital, Inventurus Knowledge and Avanse Financial.

The Current active IPO is Nisus Finance and Emerald Tyre Manufacturers.

The Closed IPOs are  Ganesh Infraworld, Suraksha Diagnostic, Agarwal Toughened, Apex Ecotech, Abha Power and Steel.

The Recently Listed IPOs which is available for trading in stock Market are Rajputana Biodiesel, Rajesh Power Services, C2C Advanced System, Enviro Infra Engineers, Waaree Energies Limited IPO, Diffusion Engineers Limited IPO, KRN Heat Exchanger Limited IPO, P N Gadgil Jewellers Limited IPO, Bajaj Housing Finance Limited IPO, Gala Precision Engineering Limited IPO, Premier Energies Limited IPO, Orient Technologies Limited IPO, Interarch Building Products Limited IPO, Unicommerce eSolutions Limited IPO and many more.

Read more

About Sai Life Sciences Limited

Sai Life Sciences is an innovator-focused, contract research, development, and manufacturing organization (“CRDMO”). They provide end-to-end services across the drug discovery, development, and manufacturing value chain, for small molecule new chemical entities (“NCE”), to global pharmaceutical innovator companies and biotechnology firms. They possess both (a) discovery / contract research (“CRO”) and (b) chemistry, manufacturing, and control (“CMC”) / contract development and manufacturing organization (“CDMO”) capabilities. They are also one of the few CRDMOs to have a differentiated delivery model of having research laboratories for discovery and development located near overseas innovation hubs at Watertown (Greater Boston, MA), United States (“US”) and Manchester, United Kingdom (“UK”), complemented by large-scale research laboratories and manufacturing facilities in cost competitive locations in India. During the Financial Year 2024, they served more than 280 and 230 innovator pharmaceutical companies, respectively, including 18 of the top 25 pharmaceutical companies (in terms of revenue for the calendar year 2023), across regulated markets, including the US, the UK, Europe and Japan. During both the Financial Year 2024 and six months period ended September 30, 2024, they also provided CRO services to more than 60 customers, respectively, on an ongoing basis, for their integrated drug discovery programs. As of September 30, 2024, their CDMO product portfolio included more than 170 innovator pharmaceutical products, including 38 products that were supplied for manufacturing of 28 commercial drugs.

As of September 30, 2024, Sai Life Sciences had 3,135 employees, with capabilities across the CRDMO value chain. The Bankers of the Company are Bank of Baroda, Kotak Mahindra Bank Limited and ICICI Bank Limited.

CRDMO Industry
CRDMO industry primarily comprises of 3 key types of players: CRDMOs (Contract Research Development and Manufacturing Organizations), Contract Research Organizations (CROs) and Contract Development and Manufacturing Organizations (CDMOs). CRDMOs are integrated contract service organizations which provide end-to-end services spanning the entire drug discovery, development, and manufacturing lifecycle. They provide pharmaceutical innovators with economically viable and tailored solutions for the various challenges they face across the value chain. By leveraging their expertise, infrastructure, and resources, pharmaceutical innovators can accelerate the drug development process, reduce costs, and access specialized capabilities that may not be available inhouse.

CROs specialize in offering various scientific functions of the discovery, preclinical and clinical stages of pharmaceutical R&D. CDMOs provide commercialization manufacturing as well as process/formulation development to support the preclinical and clinical stages (also known as Chemistry, Manufacturing and Control (CMC) services).

India CRDMO Industry
India CRDMO industry stood at USD 4.0 billion (INR 336 billion) in 2018 and reached USD 7.3 billion (INR 609 billion) in 2023, growing at a CAGR of 12.6% between 2018 and 2023. By 2028, the industry is anticipated to reach USD 14.1 billion (INR 1,173 billion) by growing at a CAGR of 14.0% over the period of 2023 to 2028. Indian CRDMO industry has observed a significant growth in the recent years on the back of increased collaborations, partnerships and collaborations in the industry. Amongst the value chain functions, pre-clinical development is expected to grow at a significantly faster pace at 15.7% during FY23-28F, driven by significant improvement in technical capabilities of Indian companies driving R&D outsourcing demand from global pharma innovator companies. Bolstering of integrated offerings by Indian companies with increase in Biology and DMPK capabilities is driving significant growth in discovery and pre-clinical segments.

Indian CRDMO industry has largely been dominated by small molecules with their proportion constituting 90%+ of the total industry in 2023. With increasing prominence of Indian CRDMOs in the global markets and increased outsourcing of small molecules, the dominance of small molecules is expected to continue despite increasing demand of large molecules. The Indian small molecule CRDMO industry size is estimated to increase to USD 12.8 billion (INR 1,064 billion) by 2028 and with a compound annual growth rate (CAGR) of 13.7% from 2023 to 2028.

Non-Clinical CRO SAM refers to the global small molecule Non-Clinical CRO industry. Driven by shift in global dynamics due to China plus one, Biosecure act and other factors and increasing capabilities of Indian companies, India small molecule Non-Clinical CRO is expected to grow at a faster rate and become a USD 1.0 billion (INR 82 billion) industry by 2028.

Small Molecule Innovator API CDMO SAM refers to the global small molecule innovator API CDMO industry. With multiple growth tailwinds for the India CDMO industry, it is expected to gain market share and become a larger proportion of CDMO SAM, accounting for 10%+ share by 2028F.

Indian CRDMOs have demonstrated enhanced capabilities including availability of skilled talent, economical cost base, quality infrastructure and systems adhering to GLP and cGMP standards, positioning them to benefit from increased R&D and manufacturing outsourcing by pharmaceutical innovators. Tightening of IP protection laws have further strengthened confidence in Indian CRDMO providers among global pharmaceutical companies. Geographically, Indian CRDMOs are strategically best positioned to be part of a de-risked supply chain sought by European and American companies. 

SAI LIFE SCIENCES LIMITED COMPETITIVE STRENGTHS
1. One of the largest integrated Indian CRDMOs in terms of revenue from operations for the Financial Year 2024, acting as a one-stop platform for discovery, development and manufacturing
2. CDMO platform with a diverse mix of commercial and under-development molecules
3. Fast-growing, integrated Discovery capabilities with focus on biology, chemistry and DMPK services
4. Modern R&D infrastructure with a differentiated delivery model and strong regulatory track-record
5. Experienced management team and Board supported by a qualified scientific talent pool
6. Strategic business investments with improving profitability metrics

SAI LIFE SCIENCES LIMITED GROWTH STRATEGIES
1. Increase cross-selling with existing customers and win new customers
2. Continue to build a strong commercial development and manufacturing portfolio of CMC capabilities
3. Pursue more integrated Discovery projects to drive customer stickiness along with larger integrated Discovery programs
4. Continue to expand their existing capacity and add new technical capabilities
5. Continue to drive operational excellence initiatives to improve profitability and return metrics
6. Continue to attract, train and retain quality talent to support their rapid growth

SAI LIFE SCIENCES LIMITED RISK FACTORS & CONCERNS
1. The financial performance depends on their ability to secure business from biotechnology and pharmaceutical customers.
2. The business may be adversely affected if the customers fail to develop or manufacture commercially viable drugs, including due to industry specific challenges they may face.
3. The largest customer contributed 8.00% and 9.55% of the total revenue from operation for the six months period ended September 30, 2024 and the year ended March 31, 2024 respectively. 
4. They conduct animal testing, which can result in adverse publicity liability and other issues.
5. They purchased 14.88% and 11.43% of the cost of material, chemicals and reagents consumed from their three largest suppliers for the six months period ended September 30, 2024 and the Financial Year ended 2024, respectively.