Sai Life Sciences IPO: Issue Subscribed 1.8x on Day 3; QIB Portion Oversubscribed Over 4x

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The Initial Public Offering (IPO) of Sai Life Sciences, a leading contract research and manufacturing services (CRAMS) company, has garnered significant investor interest as the issue reached 1.8 times subscription on Day 3 of the offer period.

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The Qualified Institutional Buyer (QIB) portion has been the standout performer, oversubscribed by more than 4 times, signaling strong demand from institutional investors. Retail and non-institutional investor segments also showed healthy participation, contributing to the overall subscription progress.

Sai Life Sciences, which focuses on providing integrated drug discovery, development, and manufacturing services, aims to raise funds for various strategic initiatives, including expanding its capabilities and strengthening its balance sheet. The IPO, which opened on December 8, 2024, will close on December 12, 2024.

The strong subscription figures suggest a positive outlook for the company’s listing, as investors continue to show confidence in the growth prospects of the biopharmaceutical sector.

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