Sai Life Sciences IPO got 84% subscription on the first day, check GMP price

IPO News: On Wednesday, December 11, IPOs of many companies opened for subscription, one of the prominent names among which is of Sai Life Sciences, a company in the field of research, development and manufacturing. This IPO, which started on December 11, will close on December 13. On the very first day, this IPO received great support from investors and it was subscribed 0.84 times (84%).

First day performance

According to data from the National Stock Exchange (NSE), applications were received for 3,27,98,169 shares against 3,88,29,848 shares on the first day. The highest interest was shown by investors in the QIB (Qualified Institutional Buyers) category, who subscribed it 2.52 times. On the other hand, the NII (Non-Institutional Investors) category subscribed 0.16 times and retail investors 0.19 times.

IPO price band and investment options

Sai Life Science has fixed the price band for its IPO at Rs 522 to Rs 549 for shares with a face value of Rs 1.

Retail investors will get one lot of 27 shares, for which the minimum investment will be Rs 14,823.

Retail investors can apply for a maximum of 13 lots (351 shares), in which an investment of Rs 1,92,699 will have to be made.

Target to raise Rs 3042.62 crore

Sai Life Science wants to raise Rs 3042.62 crore through this IPO. Under this, a total of 5,54,21,123 shares will be issued. Of these, 1,73,04,189 shares will be newly issued shares, while 3,81,16,934 shares will be sold by the company's promoters through OFS (Offer for Sale).

Share allotment and listing

After the IPO closes:

Allotment of shares will take place on December 16.

Shares will be credited to the demat accounts of investors on December 17.

The IPO will be listed on BSE and NSE on December 18.

GMP and investor prospects

On Thursday, December 12, the gray market premium (GMP) of Sai Life Science IPO was Rs 39, which is 7.10% of its price band. This GMP reflects a positive outlook towards it among investors.

Why is this IPO special?

Sai Life Science is a significant player in the biotechnology and pharmaceutical sector. Its strong business model and research-driven approach make it attractive to investors. The funds raised through the IPO will be used for the company's expansion plans and debt repayment.

Conclusion

The Sai Life Science IPO is an important opportunity for investors, especially those looking to invest in the research and development sector. Its first day performance and GMP indicate that this IPO can give good returns to investors. However, do consult your financial advisor before investing.