Sai Life Sciences IPO share allotment likely today: Check status, GMP, listing date and other details

The share allotment of Sai Life Sciences IPO is likely to be finalised later today or tomorrow morning. Investors will get shares on a lottery basis and the whole process was supervised by the registrar. On the allotment date, investors get to know about the number of shares allotted to them as against the bids made.

They can check the allotment status through the BSE or by visiting the registrar's website. Here's how you can check the status on BSE or even on the registrar's website.

Firstly, here's how you can know the status on BSE

Step 1: Visit the BSE Website (https://www.bseindia.com/investors/appli_check.aspx)

Step 2: Please select the issue name, that is the company's name in the drop down.

Step 3: Enter the application number or PAN number to check the allotment status.

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To check the status of Sai Life Sciences IPO allotment through the registrar, which is Kfin Technologies in this case, kindly follow the below steps.

Step 1: Visit the Kfin Technologies website (https://ipostatus.kfintech.com/)

Step 2: Select Sai Life Sciences IPO

Step 3: Enter the PAN details and click search to know the status

Sai Life Sciences GMP

The company's shares are expected to get listed on the exchanges on December 18. According to market sources, Suraksha Diagnostic is trading with a GMP of Rs 61 in the unlisted market, which translates to a premium of 11% to the issue price.

Sai Life Sciences IPO subscription

The IPO of Sai Life Sciences received decent response from investors with an overall subscription of 10 times at close. The issue, which is a fresh issue of 1.73 crore shares and an OFS of 3.81 crore shares, will close today. The company said that it would use the proceeds from its IPO to repay its debts and for general corporate purposes.

Sai Life Sciences provides end-to-end services across the drug discovery, development, and manufacturing value chain, for small molecule New Chemical Entities (NCE), to global pharmaceutical innovator companies and biotechnology firms.

The global small molecule contract research, development and manufacturing organization industry is forecasted to reach $159 billion by 2028 (comprising approximately 53% of the overall global contract research, development and manufacturing organization industry), driven by increasing pharmaceutical and biotech research & development outsourcing, continued demand for small molecules and growing demand for cost-effective drugs.

Kotak Mahindra Capital Company, IIFL Capital Services, Jefferies India and Morgan Stanley India Company are the book running lead managers, while KFin Technologies is the registrar for the IPO.

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