Price Band is fixed at Rs522 to Rs549 per equity share of face value of Rs1 each (“Equity Share”).
Sai Life Sciences Limited (“Sai Life” or “The Company”),
proposes to open the Bid / Offer Period in relation to its initial public offer of the Equity Shares
(“Offer”) on Wednesday, December 11, 2024.
The Offer comprises a fresh issue of such number of Equity Shares by the Company
aggregating up to Rs9,500 million (The “Fresh Issue”) and offer for sale of up to 38,116,934
Equity Shares (“Offer for Sale”) by certain existing shareholders of the Company (the “Selling
Shareholders”). (The “Total Offer Size”)
The Company proposesto utilise the Net Proceeds towards repayment/prepayment, in full or
part, of all or certain outstanding borrowings availed by the Company estimated to be Rs7,200
million and balance amount towards general corporate purpose. (The “Objects of the Offer”)
The Offer for Sale comprises up to 6,454,780 Equity Shares by Sai Quest Syn Private Limited
(the “Promoter Selling Shareholder”), up to 23,159,368 Equity Shares by TPG Asia VII SF Pte
Ltd, up to 6,210,186 Equity Shares by HBM Private Equity India (collectively, the “Investor
Selling Shareholders”) and up to 650,000 Equity Shares by Bharathi Srivari, up to 500,000
Equity Shares by Anita Rudraraju Nandyala, up to 500,000 Equity Shares by Raju Penmasta,
up to 250,000 Equity Shares by Dr. Dirk Walter Sartor, up to 245,100 Equity Shares by Jagdish
Viswanath Dore, up to 62,500 Equity Shares by Rajagopal Srirama Tatta, up to 80,000 Equity
Shares by K Pandu Ranga Raju and up to 5,000 Equity Shares by Venkata Narasimha Sastry
Renduchintala (collectively, The “Other Selling Shareholders”)
The Anchor Investor Bid/Offer Period opens and closes on Tuesday, December 10, 2024. The
Bid/Offer Period will open on Wednesday, December 11, 2024 for subscription and close on
Friday, December 13, 2024. (The “Bid Details”)
Not for distribution outside India
The Price Band of the Offer has been fixed at Rs522 to Rs 549 per Equity Share (the “Price
Band”). Bids can be made for a minimum of ... Equity Shares and in multiples of ... Equity
Shares thereafter. (The “Bid Lot”).
This Equity Shares are being offered through the Red Herring Prospectus of the Company
dated December 5, 2024 filed with the Registrar of Companies, Telangana at Hyderabad. (The
“RoC”)
The Equity Shares to be offered through the Red Herring Prospectus are proposed to be listed
on the stock exchanges being BSE Limited (“BSE”) and National Stock Exchange of India
Limited (“NSE” together with BSE, the “Stock Exchanges”). For the purposes of the Offer, NSE
is the Designated Stock Exchange. (The “Listing Details”)
Kotak Mahindra Capital Company Limited, IIFL Capital Services Limited (Formerly known as
IIFL Securities Limited), Jefferies India Private Limited and Morgan Stanley India Company
Private Limited are the book running lead managers to the Offer (The “BRLMs”).
All capitalised terms used herein but not defined shall have the same meaning as ascribed to
them in the RHP.
The Offer is being made through the Book Building Process, in terms of Rule 19(2)(b) of the
Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”) read with Regulation 31
of the SEBI ICDR Regulations and in compliance with Regulation 6(1) of the SEBI ICDR
Regulations, wherein not more than 50% of the Offer shall be available for allocation on a
proportionate basis to Qualified Institutional Buyers (“QIBs” and such portion, the “QIB
Portion”), provided that our Company may, in consultation with the BRLMs, allocate up to
60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the
SEBI ICDR Regulations (“Anchor Investor Portion”), of which one-third shall be reserved for
domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at
or above the Anchor Investor Allocation Price. In the event of under-subscription, or non-
allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the
remaining QIB Portion (“Net QIB Portion”).
Further, 5% of the Net QIB Portion (excluding the Anchor Investor Portion) shall be available
for allocation on a proportionate basis only to Mutual Funds, and the remainder of the Net
QIB Portion shall be available for allocation on a proportionate basis to all QIBs (other than
Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above
the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the
Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion
will be added to the remaining QIB Portion for proportionate allocation to QIBs.
Further, not less than 15% of the Offer shall be available for allocation on a proportionate
basis to Non-Institutional Bidders of which (a) one third shall be reserved for applicants with
application size of more than Rs 200,000 and up to Rs 1,000,000; and (b) two third shall be
reserved for applicants with application size of more than Rs 1,000,000, provided that the
unsubscribed portion in either of such sub-categories may be allocated to applicants in the
other sub-category of Non-Institutional Bidders, and not less than 35% of the Offer shall be
available for allocation to Retail Individual Bidders (“RIBs”) in accordance with the SEBI ICDR
Regulations, subject to valid Bids being received at or above the Offer Price. All potential
Bidders (except Anchor Investors) are required to mandatorily utilise the Application
Supported by Blocked Amount (“ASBA”) process providing details of their respective ASBA
accounts, and UPI ID in case of UPI Bidders, if applicable, in which the corresponding Bid
Amounts will be blocked by the SCSBs or Sponsor Banks under the UPI Mechanism, as
applicable, to participate in the Offer. Anchor Investors are not permitted to participate in the
Offer through the ASBA process.
