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Sai Life Sciences Limited: Sai Life Sciences Ltd proposes to open the bid/offer period in respect of its IPO of equity shares on December 11.
The offer comprises a fresh issue of equal number of equity shares worth up to Rs 9,500 million and an offer for sale of 3,81,16,934 equity shares by certain existing shareholders of the company.
The Company proposes to utilize the total proceeds of the Issue amounting to approximately Rs 7,200 million for full or partial repayment/prepayment of all or part of the debt incurred by the Company and to utilize the balance amount for general corporate purposes.
The offer for sale comprises up to 64,54,780 equity shares by CyQuest Sign Pvt Ltd (“Promoter Selling Shareholder”), up to 2,31,59,368 equity shares by TPG Asia VII SF Pte Ltd, up to 62,10,186 equity shares by TPG Asia VII SF Pte Ltd. Shares by HBM Private Equity India and Bharati Sriwari From 6,50,000 equity shares to 5,00,000 equity shares by Anita Rudraraju Nandyala, up to 5,00,000 equity shares by Raju Penmasta, up to 2,50,000 equity shares by Dr. Dirk Walter Serter , up to 2,45,100 equity shares by Jagdish Vishwanath Dore, Rajagopal Sriram Tata up to 62,500 equity shares, Pandu Ranga Raju up to 80,000 equity shares and Venkat Narasimha Sastry by Renduchintala. Equity shares up to Rs 5,000 are included.
The anchor investor bid/offer period will open and close on Tuesday, December 10, 2024. Bids/proposals will open for subscription on Wednesday, December 11, 2024 and close on Friday, December 13, 2024.
The price band of the offer per equity share is Rs. 522 to Rs. 549 has been determined. Bids can be made for a minimum of 27 equity shares and in multiples of 27 equity shares thereafter.