Sai Life Sciences Limited files DRHP with SEBI
Bengaluru, 15th July 2024: Sai Life Sciences Limited has filed its Draft Red Herring Prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI).
Sai Life Sciences provides end-to-end services to global pharmaceutical innovator companies and biotechnology firms across the drug discovery, development, and manufacturing value chain, for small molecule new chemical entities (“NCE”).
The Company plans to raise funds by offering equity shares (face value of Rs.1 each) through initial public offerings. The offer comprises a fresh issue of Equity Shares aggregating up to Rs.800 crores and an offer for sale of up to 61,573,120 equity shares by Selling Shareholders.
Sai Life Sciences proposes to utilize net proceeds from fresh issues towards- (i) Repayment/ prepayment, in full or part, of all or certain outstanding borrowings availed by the Company to Rs.600 crores and (ii) for General corporate purposes.
The Equity Shares that will be offered through the Red Herring Prospectus are proposed to be listed on the BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”).
Kotak Mahindra Capital Company Limited, IIFL Securities Limited, Jefferies India Private Limited, and Morgan Stanley India Company Private Limited are the Book Running Lead Managers to the issue.
