Sai Life Sciences
Book Building issueMainboardNSE₹3,043 Cr issue
+20.22%
Listing gain over issue price
Issue size
₹3,043 Cr
1 lot at cut-off
₹14,823
Lot size
27shares
Open
11 Dec 2024
Close
13 Dec 2024
Allotment
16 Dec 2024
Listing
18 Dec 2024
Listing performance
Issue price
₹549
Listed at
₹660
Listing-day close
₹765.30
Latest price
₹1,395.30
Close on 23 Oct 2026
Listing gain
+20.22%
Return since issue
+154.15%
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 11 Dec 2024 – 13 Dec 2024
- Listing date
- 18 Dec 2024
- Face value
- ₹1 per share
- Issue price
- ₹549 per share
- Lot size
- 27 shares
- Issue type
- Book Building issue
- Listing at
- NSE
- Total issue size
- ₹3,043 Cr
- Market cap at offer price
- ₹11,419 Cr
- Promoter holding
- 41.82% → 35.24% pre-issue → post-issue
- ISIN
- INE570L01029
- Registrar
- Kfin Technologies Ltd.
- Lead managers
- Kotak Mahindra Capital Co.Ltd.
- Registered office
- Plot No.DS-7, IKP Knowledge Park, Turkapally Village, Shameerpet Mandal, Malkajgiri District, Telangana
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 1,66,26,336 | — | — |
| Market maker | 0 | — | — |
Application size
Minimum 27 shares per lot, in multiples, at ₹549
| 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 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Shares allocated
1,66,26,336
Anchor portion
₹913 Cr
at ₹549 per share
Valuation and performance
Valuation at offer price
₹549 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 4.34 | 2.69 |
| P/E (×) | 126.50 | 204.09 |
| Price to book (×) | 10.18 | — |
| Market cap | — | ₹11,419 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 8.13%
- ROCE
- 15.96%
- PAT margin
- 5.65%
- NAV per share
- ₹53.94
- Price to book
- 10.18
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Sai Life Sciences
Sai Life Sciences Limited is a pure play fully-integrated, innovator-focused contract research, development and manufacturing organization ('CRDMO'). The Company was originally incorporated as 'Sai Dru Syn Laboratories Limited' on January 25, 1999 and received its certificate of commencement of business on February 17, 1999. The Company subsequently changed its name to 'Sai Life Sciences Limited' in 2003, then to 'Sai Advantium Pharma Limited' in 2006, and back to 'Sai Life Sciences Limited' in 2012. The Company provides end-to-end services across the drug discovery, development and manufacturing value chain for small molecule new chemical entities to global pharmaceutical innovator companies and biotechnology firms. It possesses both discovery/contract research and chemistry, manufacturing, and control/contract development and manufacturing organization capabilities. The Company has research laboratories for discovery and development located near overseas innovation hubs at Watertown (Greater Boston, MA), US and Manchester, UK, complemented by large-scale research laboratories and manufacturing facilities in cost competitive locations in India. The Company's revenue model is primarily based on two types: fee-for-service ('FFS') model and full-time equivalent ('FTE') model. As of September 30, 2024, 35.40% and 64.60% of the Company's contracts with customers are based on FFS model and FTE model, respectively.
Company Analysis
from RHPSai Life Sciences is a fully-integrated, innovator-focused contract research, development and manufacturing organization providing end-to-end services across drug discovery, development and manufacturing for small molecule new chemical entities to global pharmaceutical and biotechnology companies.
Sai Life Sciences Limited is a pure play fully-integrated, innovator-focused contract research, development and manufacturing organization ('CRDMO'). The Company was originally incorporated as 'Sai Dru Syn Laboratories Limited' on January 25, 1999 and received its certificate of commencement of business on February 17, 1999. The Company subsequently changed its name to 'Sai Life Sciences Limited' in 2003, then to 'Sai Advantium Pharma Limited' in 2006, and back to 'Sai Life Sciences Limited' in 2012. The Company provides end-to-end services across the drug discovery, development and manufacturing value chain for small molecule new chemical entities to global pharmaceutical innovator companies and biotechnology firms. It possesses both discovery/contract research and chemistry, manufacturing, and control/contract development and manufacturing organization capabilities. The Company has research laboratories for discovery and development located near overseas innovation hubs at Watertown (Greater Boston, MA), US and Manchester, UK, complemented by large-scale research laboratories and manufacturing facilities in cost competitive locations in India. The Company's revenue model is primarily based on two types: fee-for-service ('FFS') model and full-time equivalent ('FTE') model. As of September 30, 2024, 35.40% and 64.60% of the Company's contracts with customers are based on FFS model and FTE model, respectively.
Contract Research, Development and ManufacturingPharmaceutical manufacturingBiotechnology servicesDrug discovery and developmentChemical manufacturing
Objects of the Issue
- Repayment/pre-payment, in part or full, of all or certain outstanding borrowings availed by our Company ₹7,200.00 million p.22
- General corporate purposes p.22
- Repayment/prepayment, in part or full, of all or certain outstanding borrowings availed by our Company p.63
- General corporate purposes p.67
- Repayment/prepayment, in full or part, of all or certain outstanding borrowings availed by our Company ₹7,200 million p.136
- General corporate purposes [●] (not exceeding 25% of Gross Proceeds) p.138
- Not stated in this document part
Issue Structure
- Total Issue
- Up to [●] Equity Shares of face value of ₹1 each aggregating up to ₹[●] million
- Fresh Issue
- Up to [●] Equity Shares of face value of ₹1 each aggregating up to ₹9,500.00 million
- Offer for Sale
- Up to 38,116,934 Equity Shares of face value of ₹1 each aggregating up to ₹[●] million
- Price Band
- [●] per Equity Share
- Lot Size
- [●] Equity Shares
- Face Value
- ₹1 each
Business Model
The Company earns revenue through two primary models: (1) Fee-for-Service (FFS) model: Under this model, the Company works based on purchase orders and long-term supply agreements with customers to manufacture and deliver APIs or intermediates as per their requirements over multi-year periods, and also takes on projects to produce and deliver specified quantities of materials as required by customers. (2) Full-Time Equivalent (FTE) model: Through FTE contracts, the Company offers services to customers with dedicated resources, executing work based on customer scope and billing for the number of resources engaged along with pass through costs on a monthly basis. As of September 30, 2024, 35.40% and 64.60% of the Company's contracts with customers are based on FFS model and FTE model, respectively.
Business Segments
Provides contract research organization (CRO) services including drug discovery, early development, and chemistry research services
Provides chemistry, manufacturing and control (CMC) services including contract development and manufacturing of APIs and intermediates for commercial and development purposes
Provides integrated drug discovery, development and commercial manufacturing services for small molecule pharmaceuticals
Provides biology, chemistry and DMPK (Drug Metabolism and Pharmacokinetics) services for drug discovery. The number of customers outsourcing integrated discovery programs increased from 29 in FY 2019 to over 60 in FY 2024. In FY 2024, 75.19% of chemistry services revenue came from customers also engaging biology and/or DMPK services.
Contract development and manufacturing services for pharmaceutical products. As of September 30, 2024, portfolio includes 50 late-phase products (commercial, Phase III and post-Phase-III), 38 products used in production of 28 commercial drugs including 7 blockbuster drugs, and 12 products for APIs in Phase III or post-Phase-III trials.
Contract research services. For FY 2024 and six months ended September 30, 2024, 75.19% and 83.46% respectively of total revenue from chemistry services was derived from customers who also engaged biology and/or DMPK service.
Integrated drug discovery services including chemistry, biology, and drug metabolism and pharmacokinetics (DMPK) capabilities. Services span target identification, lead generation, lead optimization, DMPK studies, toxicology studies, and regulatory guidance.
Comprehensive development and scaling up of active pharmaceutical ingredients (APIs) and intermediates for clinical and commercial phase supplies. Services include process development, formulation development, and commercial manufacturing across preclinical, Phase I, Phase II, Phase III, and commercial manufacturing stages.
Provides standalone and integrated discovery services for innovator pharmaceutical and biotech companies including target identification and validation, hit identification, biological assay development, medicinal chemistry and CADD, synthetic chemistry and compound delivery, DMPK and toxicology, lead candidate identification, and IND filing enabling studies.
Develops scalable chemical manufacturing processes for identified drug candidates and delivers materials for clinical studies and commercial sale, including APIs, intermediates, registered starting materials (RSMs) or key starting materials (KSMs). Services include process research, route development, optimization, scale-up, and commercial manufacturing.
Integrated discovery services including biology, chemistry, and drug metabolism and pharmacokinetics (DMPK). Services provided for more than 200 small molecule discovery programs in past five years. Delivered services to more than 160 customers in past three years and to more than 60 customers during six months ended September 30, 2024.
Comprehensive capabilities supporting development and scaling up production of active pharmaceutical ingredients (APIs) and intermediates for clinical and commercial phase supplies. As of September 30, 2024, portfolio includes 38 APIs and intermediates used in manufacturing of 28 commercial drugs including seven blockbusters and 12 products for 11 APIs in Phase III clinical trials.
CRO services including drug discovery, medicinal chemistry and biology services
CDMO services for development and manufacturing of drugs and pharmaceutical products
SWOT Analysis
Strengths
- • Pure play, fully-integrated CRDMO with both discovery and manufacturing capabilities(p.20)
- • Global presence with R&D labs near innovation hubs and cost-effective manufacturing in India(p.20)
- • Strong established customer relationships with average of 13 years for top 5 customers(p.36)
- • Diversified customer base with 329 customers in FY2024, reducing concentration risk(p.36)
- • Strong revenue growth trajectory from operations increasing 20.38% YoY in FY2024(p.23)
- • Strong revenue growth from export operations(p.41)
- • Significant profitability improvement(p.43)
- • Strong foreign exchange management(p.41)
- • Material cost optimization achieved(p.61)
- • Improved inventory management(p.51)
- • Operational efficiency gains in recent period(p.60)
- • Regulatory filing deficiencies with compounding applications filed(p.85)
- • Multiple instances of regulatory filing discrepancies requiring compounding applications(p.85)
- • Delay in RBI regulatory filing with compounding application filed(p.85)
- • One of the largest integrated Indian CRDMOs with end-to-end discovery, development and manufacturing capabilities(p.192)
- • Diversified CDMO portfolio with 28 commercial drugs including 7 blockbusters and 50 late-stage/commercial products(p.192)
- • Fast-growing discovery business with 200+ discovery programs completed and 60+ customers on integrated discovery(p.193)
- • Diversified customer base with 18 of top 25 pharma companies and no single customer exceeding 8% of revenue(p.193)
- • Strategic global presence with R&D facilities near Boston and Manchester innovation hubs plus India manufacturing(p.194)
- • Strong regulatory approval track record with USFDA, PMDA Japan approvals and 250+ customer audits(p.193)
- • Experienced management team with 25+ years average industry experience(p.196)
- • Fastest-growing Indian CRDMO among listed peers with 29.8% revenue CAGR and 51.3% EBITDA CAGR (FY22-24)(p.196)
- • Diversified customer base with minimal concentration risk(p.205)
- • Serves 18 of top 25 pharma companies globally across regulated markets(p.205)
- • Portfolio includes 7 blockbuster drugs and 12 late-phase products(p.201)
- • Advanced digital, automation and AI capabilities across R&D and manufacturing(p.198)
- • Multiple FDA and international regulatory approvals for manufacturing facilities(p.202)
- • Long-standing customer relationships averaging 12+ years(p.205)
- • Integrated end-to-end Discovery and CMC service offering(p.209)
- • Strong safety and operational excellence track record with zero major incidents(p.208)
- • Fastest-growing Indian CRDMO peer by revenue and EBITDA CAGR(p.326)
- • Differentiated geographic delivery model with innovation hub proximity(p.326)
- • Diverse and high-quality customer base including top pharma companies(p.326)
- • Strong CDMO portfolio with commercial and late-phase products(p.326)
- • Experienced management team with deep industry expertise(p.327)
- • Strong and growing scientific workforce with advanced qualifications(p.327)
- • Multiple regulatory approvals demonstrating quality standards(p.327)
- • Improved profitability margins and operational efficiency(p.330)
- • Revenue growth with improved margins in Discovery services(p.345)
- • Manufacturing and procurement efficiencies reducing material costs(p.346)
- • Strong EBITDA margin expansion(p.349)
- • Positive operating cash flow generation(p.350)
Weaknesses
- • Heavy dependence on biotechnology customers who are vulnerable to funding fluctuations(p.29)
- • Manufacturing capacity concentrated in single Bidar facility creating operational vulnerability(p.33)
- • High exposure to patent expiry of innovator products (96.37% of CDMO revenue from innovator companies)(p.40)
- • Significant dependence on imports (51.98% of material cost) creating supply chain vulnerability(p.39)
- • High reliance on limited raw material suppliers (14.88% from top 3 suppliers in H1 FY2025)(p.38)
- • Significant losses in subsidiary operations (₹150.60 million loss in FY2024)(p.37)
- • Significant capacity underutilization(p.42)
- • High employee attrition rate(p.43)
- • Reliance on limited customer base with pricing pressure(p.46)
- • Elevated credit and counterparty risk from biotech customers(p.47)
- • Dependence on key promoter and management personnel(p.43)
- • Pending litigation and statutory dues disputes(p.54)
- • Contingent liabilities from disputes(p.56)
- • Significant working capital requirements and debt burden(p.45)
- • Past instances of non-filing and discrepancies in regulatory filings with RoC(p.85)
- • Unable to trace share transfer forms for certain historical transfers(p.116)
- • Risk of future regulatory proceedings and penalties due to past filing deficiencies(p.85)
- • Dependence on few large customers and limited customer diversification despite 280+ base(p.193)
- • High capital intensity with significant ongoing capex requirements(p.191)
- • Low PAT margins relative to peers and low profitability in early periods(p.191)
- • High net debt to equity ratio of 0.73x indicating significant leverage(p.191)
- • Dependence on key management personnel and promoter leadership(p.196)
- • High employee attrition rate of 24.70% in FY2024(p.210)
- • Unit VI Bidar facility underutilized at 11.55% capacity in H1 FY2025(p.204)
- • Unit III Bollaram facility capacity utilization dropped to 49% in H1 FY2025(p.204)
- • Top 10 customers represent 43.45% of revenue, creating customer concentration risk(p.205)
- • 27.75% of raw materials sourced from China creating supply chain risk(p.207)
- • Unit IV facility capacity utilization at 61.78%, below optimal levels(p.204)
- • High employee benefit expenses relative to revenue(p.330)
- • Significant material costs and inventory management challenges(p.329)
- • High leverage with significant debt obligations(p.327)
- • Contingent tax liabilities and regulatory disputes(p.316)
- • High finance costs burden on profitability(p.307)
- • High employee benefits expense rising faster than revenue growth(p.347)
- • Significant outstanding GST tax liabilities from regulatory disputes(p.364)
- • Multiple GST assessments creating contingent liabilities across financial years(p.363)
- • Provident fund liability from historical classification disputes(p.360)
- • High finance costs increasing with borrowed capital(p.347)
Opportunities
- • Global CRDMO market forecasted to reach $159 billion by 2028 with strong growth drivers(p.20)
- • Indian CRDMO market among fastest growing in APAC, projected 14% CAGR to $14.1 billion by 2028(p.20)
- • Added 31 new products to portfolio in FY2024 demonstrating pipeline expansion capability(p.31)
- • Growing discovery revenue showing recovery in biotech funding post-COVID with enhanced earnings from medicinal chemistry(p.23)
- • Expansion of R&D and manufacturing capacities(p.43)
- • Government incentive schemes driving profitability(p.50)
- • Growth in biotech funding environment recovery(p.61)
- • Revenue growth from new product commercialization(p.61)
- • Multiple entry points for customer acquisition in CRDMO value chain(p.62)
- • Expansion of geographic footprint and market reach(p.57)
- • India CRDMO industry projected to grow 14% CAGR to $14.1B by 2028, driven by China+1 strategy(p.174)
- • Global R&D outsourcing penetration expected to grow from 41.1% (2023) to 46.6% (2028)(p.166)
- • Biotech and small pharma R&D spending growing at 7.4% and 4.6% CAGR respectively with increased outsourcing(p.194)
- • Rising demand for integrated CRDMOs as pharma companies seek single-partner solutions(p.168)
- • Geopolitical tailwinds including Biosecure Act driving business diversion from China to India(p.174)
- • Global small molecule CDMO market projected to grow 6.8% CAGR to $137B by 2028(p.181)
- • Expansion into emerging therapeutic modalities including cell, gene and mRNA therapies(p.198)
- • Adding new production blocks and facilities at Unit IV and Unit VI Bidar(p.198)
- • Expanding Discovery laboratory capacity in Hyderabad(p.198)
- • Strengthening technical capabilities in flow chemistry, particle sciences and formulation development(p.198)
- • Active collaborations in emerging modalities with pharma and biotech companies(p.198)
- • Acquiring additional land for future manufacturing capacity expansion(p.213)
- • Growing demand for integrated CRDMO services from global pharma innovators(p.209)
- • Planned expansion of R&D and manufacturing capacity(p.329)
- • Development of advanced therapeutic capabilities(p.329)
- • Growing demand from increased pharmaceutical outsourcing(p.329)
- • Deepen customer relationships and cross-selling opportunities(p.329)
- • Geopolitical shifts creating nearshoring opportunities(p.329)
- • Expansion of commercial molecule production and pipeline development(p.348)
- • Biotech funding environment recovery driving discovery services demand(p.345)
- • Leveraging economies of scale and reduced raw material costs(p.348)
- • Planned capital expansion at manufacturing facilities(p.350)
Threats
- • Biotech customer funding volatility creating revenue discontinuity risk(p.29)
- • Regulatory compliance risks from USFDA, PMDA and other authorities with facility inspection findings(p.32)
- • Geopolitical supply chain disruptions from China trade tensions, Russia-Ukraine conflict and Middle East tensions(p.38)
- • Significant contingent tax liabilities totaling ₹259.91 million including GST and income tax disputes(p.24)
- • Foreign exchange volatility affecting USD-denominated revenues (97.4% of revenue from outside India)(p.34)
- • Intellectual property infringement litigation risk with unlimited liability for gross negligence breaches(p.40)
- • Significant foreign exchange volatility exposure(p.41)
- • Regulatory uncertainty in pharmaceutical development timelines(p.61)
- • Healthcare reforms and pricing pressure from IRA(p.49)
- • Intense competitive landscape with larger global players(p.56)
- • Changing labour laws increasing employee costs(p.63)
- • Risk of drug development failure affecting revenue(p.61)
- • Global economic and political uncertainty affecting demand(p.63)
- • Supply chain and outsourcing partner risks(p.43)
- • Dependence on export-oriented unit (EOU) status and policy changes(p.50)
- • Inflation and rising input costs(p.64)
- • Intense competition from global and Chinese CRDMOs with larger scale and established customer base(p.183)
- • Regulatory compliance risks and changing stringent regulations requiring constant adaptation(p.172)
- • Risk of excess production capacity leading to underutilization and margin compression(p.172)
- • Shortage of skilled scientific workforce with life sciences turnover of 25-30% in India(p.172)
- • Dependence on global pharma R&D spending which fluctuates with economic cycles(p.171)
- • Risk of disruption in global supply chain and raw material availability(p.171)
- • Highly fragmented CRDMO market with over 1,000 global competitors(p.209)
- • Intense competition from established global CRDMOs including WuXi AppTec and Charles River(p.209)
- • Regulatory risks from FDA, PMDA, EU and other international authorities(p.207)
- • Raw material supply chain risks including geopolitical dependencies(p.206)
- • Hazards inherent in pharmaceutical manufacturing including fire, explosions and chemical risks(p.210)
- • Insurance coverage may be insufficient for large uninsured losses(p.210)
- • Intellectual property and cybersecurity risks across global operations(p.210)
- • Intense competition in CRDMO industry affecting pricing and market share(p.329)
- • Dependence on end product clinical trial success beyond company control(p.329)
- • Foreign exchange volatility affecting costs and revenues(p.330)
- • Raw material price volatility and supply chain risks(p.329)
- • Regulatory and tax compliance risks across multiple jurisdictions(p.316)
- • Risk of inability to pass on rising labor costs to customers(p.330)
- • Extensive GST and indirect tax regulatory disputes(p.362)
- • Interest rate risk from floating rate loan facilities(p.352)
- • Foreign exchange exposure from international operations and revenues(p.352)
- • Commodity price volatility for raw material inputs(p.352)
- • Criminal proceedings and worker safety incident(p.360)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Kanumuri Ranga Raju | Individual Promoter | 0.09% (direct shareholding); 16.89% (indirect shareholding); 16.98% (total) | — |
| Krishnam Raju Kanumuri | Individual Promoter | 1.56% | — |
| Kanumuri Mytreyi | Individual Promoter | 0.03% (direct shareholding); 16.90% (indirect shareholding); 16.93% (total) | — |
| Sai Quest Syn Private Limited | Corporate Promoter / Promoter Selling Shareholder | 5.74% | — |
| Marigold Partners | Promoter | 11.53% | — |
| Sunflower Partners | Promoter | 8.11% | — |
| Tulip Partners | Promoter | 4.83% | — |
| Lily Partners | Promoter | 3.59% | — |
| Kanumuri Ranga Raju | Promoter | — | — |
| Krishnam Raju Kanumuri | Promoter | — | — |
| Kanumuri Mytreyi | Promoter | — | — |
| Marigold Partners | Promoter | 11.53% | — |
| Sunflower Partners | Promoter | 8.11% | — |
| Sai Quest Syn Private Limited | Promoter | 5.74% | — |
| Tulip Partners | Promoter | 4.83% | — |
| Lily Partners | Promoter | 3.59% | — |
| Krishnam Raju Kanumuri | Promoter | 1.56% | — |
| Kanumuri Ranga Raju | Promoter | 0.09% | — |
| Kanumuri Mytreyi | Promoter | 0.03% | — |
| Kanumuri Ranga Raju | Promoter/Chairman and Whole time Director | — | — |
| Kanumuri Ranga Raju | Promoter | 0.09% | — |
| Krishnam Raju Kanumuri | Promoter | 1.56% | — |
| Kanumuri Mytreyi | Promoter | 0.03% | — |
| Sai Quest Syn Private Limited | Corporate Promoter | 5.74% | — |
| Marigold Partners | Promoter Group | 11.53% | — |
| Sunflower Partners | Promoter Group | 8.11% | — |
| Tulip Partners | Promoter Group | 4.83% | — |
| Lily Partners | Promoter Group | 3.59% | — |
| Kanumuri Ranga Raju | Individual Promoter | — | — |
| Kanumuri Mytreyi | Individual Promoter | — | — |
| Marigold Partners | Promoter Group | 10.09% | 10.83% |
| Sunflower Partners | Promoter Group | 6.46% | 7.34% |
| K. Ranga Raju | Promoter | — | — |
| Sai Quest Syn Private Limited | Promoter | — | — |
Leadership
Krishnam Raju Kanumuri · Chief Executive Officer
Sivaramakrishnan Chittor · Chief Financial Officer
Runa Karan · Company Secretary, Compliance Officer and Legal Head
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.
Sai Life Sciences IPO FAQs
What is the lot size of Sai Life Sciences IPO?
The minimum lot size of Sai Life Sciences IPO is 27 shares. One lot costs ₹14,823 at the cut-off price.
When does Sai Life Sciences IPO open and close?
Sai Life Sciences IPO opened for subscription on 11 Dec 2024 and closed on 13 Dec 2024.
What is the listing date of Sai Life Sciences IPO?
Sai Life Sciences IPO listed on 18 Dec 2024.