Sai Life Sciences Shares Surge 20% on Debut
Sai Life Sciences Ltd shares debuted on the BSE and NSE with a premium of over 20%, reaching Rs 660 and Rs 650 respectively. The company's IPO was subscribed 10.26 times.
New Delhi, Dec 18 (PTI) Shares of Sai Life Sciences Ltd listed with a premium of more than 20 per cent over the issue price of Rs 549 on Wednesday.
The stock made its market debut at Rs 660, soaring 20.21 per cent from the issue price on the BSE. It further jumped 27.86 per cent to Rs 702.
At the NSE, shares of the firm began the day at Rs 650, up 18.39 per cent.
The company commanded a market valuation of Rs 14,493.75 crore.
The Rs 3,043-crore initial public offer of Sai Life Sciences Ltd got subscribed 10.26 times on the last day of share sale on Friday.
The initial share sale had a price band of Rs 522-549 apiece.
The Initial Public Offering (IPO) had a fresh issue of equity shares worth Rs 950 crore and an Offer-for-Sale (OFS) of 3.81 crore shares valued at Rs 2,092 crore, by a promoter, investor shareholders and other shareholders.
Of the IPO proceeds, funds to the tune of Rs 600 crore will be used for debt payment and a portion for corporate general purposes.
Hyderabad-based Sai Life Sciences provides 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.
The stock made its market debut at Rs 660, soaring 20.21 per cent from the issue price on the BSE. It further jumped 27.86 per cent to Rs 702.
At the NSE, shares of the firm began the day at Rs 650, up 18.39 per cent.
The company commanded a market valuation of Rs 14,493.75 crore.
The Rs 3,043-crore initial public offer of Sai Life Sciences Ltd got subscribed 10.26 times on the last day of share sale on Friday.
The initial share sale had a price band of Rs 522-549 apiece.
The Initial Public Offering (IPO) had a fresh issue of equity shares worth Rs 950 crore and an Offer-for-Sale (OFS) of 3.81 crore shares valued at Rs 2,092 crore, by a promoter, investor shareholders and other shareholders.
Of the IPO proceeds, funds to the tune of Rs 600 crore will be used for debt payment and a portion for corporate general purposes.
Hyderabad-based Sai Life Sciences provides 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.
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