Sai Life Sciences, a Hyderabad based pharmaceutical research company has completed its three-days IPO process with an overwhelming response from investors. The issue opened for subscription on December 11 and closed the window on December 13, offering shares in the price band between Rs 522 to 549 per share, with a lot size of 27 shares.
The company aimed to raise Rs 3,042.62 crore, comprising a fresh issue of Rs 950 crore and an offer-for-sale (OFS) of over 3.81 crore shares.
Here is everything you need to know about the IPO, GMP, and how you can check if you have received an allotment.
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IPO Overview
Sai Life Sciences IPO received an overall subscription of 10.26 times. Qualified Institutional Buyers (QIBs) led the charge, with their portion subscribed by 30.93 times, followed by Non-Institutional Investors (NIIs) allotment subscribed 4.92 times.
The Retail Investors portion, on the other hand, was subscribed 1.37 times.
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GMP
The grey market for Sai Life Sciences shares has been buzzing with activity since the IPO’s closure. As per the recent trends in the grey market activities, the unlisted shares of Sai Life Sciences are trading at a premium of Rs 61, or approximately 11.11 per cent above the upper end of the issue’s price band of Rs 549.
Although the GMP stood at Rs 40 to 45 on the final day of the bidding, it has since risen thereafter.
Allotment and Listing
Sai Life Sciences is set to finalise the basis of allotment for its shares on Monday, December 16. The company’s shares are then scheduled to list on both the BSE and NSE on Wednesday, December 18.
When Will You Know About Your Allotment?
The allotment process of Sai Life Sciences IPO will be finalised today,
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