Sai Life Sciences IPO: The second week of December is showing no signs of calm, atleast for the primary market. The small-molecule drug manufacturer provides services to various biotech firms and global pharmaceutical companies.
The bidding process for the initial public offering will begin tomorrow, that is December 11 and conclude on December 13. Here are the top 5 key details alongside GMP (Grey Market Premium), that you need to know before the bidding starts.
1. Sai Life Sciences GMP
GMP indicates the price level at which an entity's shares trade in the unofficial market before hitting the Dalal Street. It reflects initial investor sentiment for the company's shares ahead of its debut on the bourses.
As of Tuesday, the shares of Sai Life Sciences were trading at a grey market premium of Rs 28, commanding a premium of over 5 per cent.
2. Price band and structure
The price band of Sai Life Sciences IPO is set at Rs 522 to Rs 549 per share, with the minimum application size of fixed at 27 shares. Retail investors will need to invest a minimum amount of Rs 14,823 to participate.
The Rs 3,042.62 crore IPO comprises a fresh issue of 1.73 crore shares worth Rs 950 crore and an offer for sale of 3.81 crore shares totaling Rs 2,092.62 crore.
3. Key Dates
The bidding process for the initial public offering will start on December 11 (Wednesday) and conclude on December 13 (Friday).
The share allotment is expected to be finalised by December 16 (Monday) and the tentative listing date is set for December 18 (Wednesday).
4. Book-running lead managers
Kotak Mahindra Capital, Morgan Stanley India, Jefferies India and IIFL Securities are the book-running lead managers of the Sai Life Sciences IPO. Kfin Technologies is the registrar for the issue.
5. IPO Reservation
50 per cent of the public offering is reserved for QIBs (Qualified Institutional Buyers), 35 per cent for retail investors, and 15 per cent for NIIs (Non-Institutional Investors).
