Sai Life Sciences IPO
Sai Life Sciences Limited (SAILIFE) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 18 December 2024.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +7.4% (likely range -1% to +21%), day's high +18.9%, chance of a gain 51%. Actual: +18.4% at the open, +42.1% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 1,06,71,763 | 33,01,25,058 | 30.9x | |
| NII (HNI) total | 84,47,426 | 4,15,22,058 | 4.92x | |
| Big NII (above ₹10 lakh) | 56,31,618 | 3,38,13,693 | 6.00x | |
| Small NII (₹2-10 lakh) | 28,15,808 | 77,08,365 | 2.74x | |
| Retail | 1,97,10,659 | 2,69,12,412 | 1.37x | |
| Total | 3,88,29,848 | 39,85,59,528 | 10.3x |
Bids on NSE and BSE together, as published by NSE, as of 13 Dec 2024, 07:00 PM. Shares offered exclude the anchor portion. 6% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Sai Life Sciences's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Global HealthNov 2022 | 28.6x | 4.02x | 0.88x | 9.58x | ₹2,252 Cr | +19.4% | +26.4% |
| Rainbow Childrens MedicareApr 2022 | 38.9x | 3.73x | 1.38x | 12.4x | ₹1,581 Cr | -5.9% | -4.5% |
| Brainbees SolutionsAug 2024 | 19.3x | 4.68x | 2.31x | 12.2x | ₹4,194 Cr | +40.0% | +52.2% |
| Mankind PharmaApr 2023 | 49.2x | 3.80x | 0.92x | 15.3x | ₹4,326 Cr | +20.4% | +32.4% |
| PB FintechNov 2021 | 24.9x | 7.82x | 3.31x | 16.6x | ₹6,224 Cr | +17.4% | +27.4% |
| Bandhan BankMar 2018 | 38.7x | 13.9x | 1.20x | 14.6x | ₹4,473 Cr | +33.1% | +33.1% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Kotak Mahindra Capital Company | 83 | +20.8% | 76% |
| IIFL Capital Services | 94 | +19.3% | 71% |
| Jefferies India | 26 | +19.5% | 81% |
| and Morgan Stanley India Company | — | — | — |
Offer documents (NSE)
Frequently asked
What is the Sai Life Sciences IPO price band and lot size? ₹522–549 per share, with a lot of 27 shares, so the smallest retail bid is ₹14,823.
How many times has it been subscribed? 10.3x overall: QIB 30.9x, NII 4.92x, retail 1.37x.
How did it list? It opened at ₹650, +18.4% against the issue price of ₹549, and closed its first day +39.3%.
