Exiting shareholders that are selling shares are HBM Private Equity India, TPG Asia VII SF Pte Ltd, Sai Quest Syn Private Ltd, Anita Rudraraju Nandyala, Dr. Dirk Walter Sartor, Rajagopal Srirama Tatta, Raju Penmasta, Bharathi Srivari, K Pandu Ranga Raju, and Jagdish Viswanath Dore, as mentioned in DRHP.
Syngene International Limited, Suven Pharmaceuticals Limited, and Divi’s Laboratories Limited are the peers of the company. The lead managers of the issue are IIFL Securities, Kotak Mahindra Capital, Morgan Stanley India Company, and Jefferies India Pvt.
The fresh issue will generate ₹600 crore, which will primarily be allocated towards repaying existing debts. In March 2024, these debts totaled ₹710.16 crore on a consolidated basis.
The company is a contract research, development, and manufacturing organization (CRDMO). It provides complete services to biotech and pharmaceutical companies globally, covering every stage of drug development, research, and manufacturing processes for small-molecule new chemical entities (NCEs).
For FY24, the company reported revenue of ₹1,465.18 crore, marking an increase from ₹1,217.14 crore in the previous fiscal year. The net profit also experienced substantial growth, rising to ₹82.81 crore from ₹9.99 crore in FY23.
Sai Life Sciences has a presence in the United States, the United Kingdom, and India, as well as support from the CDSCO, USFDA, and PMDA. Life Sciences boasts a team of 2,125 scientific staff, featuring 276 PhDs and 1,343 individuals with master’s degrees, to strengthen its drug discovery, development, and manufacturing capabilities.
This upcoming IPO filing demonstrates Sai Life Sciences’ strategic focus on increasing financial flexibility and driving progress in the competitive CRDMO sector, while a promising IPO GMP promotes investor confidence.
