Sai Life Sciences IPO allotment expected today: Here’s how to check status

Sai Life Sciences IPO allotment: With the bidding period for Sai Life Sciences’ initial public offering (IPO) now closed, investors’ focus has turned to the allotment announcement, expected today, December 16. The IPO, which ran from December 11 to December 13, received an overall subscription of 10.27 times. 

The qualified institutional buyers (QIB) portion was subscribed 29.78 times, while the non-institutional investor (NII) and retail investor portions were subscribed 4.99 times and 1.39 times, respectively.

Under the ‘T+3’ listing rule, public issues must be listed on or before the third day of the issue’s close. Investors can check their allotment status through the registrar, KFin Technologies Limited, or on the NSE and BSE websites.

Due to the oversubscription in the retail category, shares will be allocated to retail individual investors on a proportional basis. For applicants who do not receive an allotment, Sai Life Sciences will initiate the refund process for the application money on December 17, 2024.

Allotted shares will be credited to investors’ demat accounts on the same day as the refund process. Sai Life Sciences is a mainboard IPO, with shares tentatively scheduled to be listed on both the NSE and BSE platforms. The issue comprises a fresh issuance of 1.73 crore shares aggregating to ₹950 crore and an offer for sale of 3.81 crore shares aggregating to ₹2,092.62 crore.

The company proposes to utilise the net proceeds for repayment or prepayment, in full or in part, of certain outstanding borrowings and for general corporate purposes.

How to Check Sai Life Sciences IPO Allotment Status on the Registrar’s Website

Step 1: Visit the IPO registrar’s website: https://kosmic.kfintech.com/ipostatus/

Step 2: Select ‘Sai Life Sciences’ from the ‘Select IPO’ dropdown menu.

Step 3: Enter either your Application No., Demat Account, or PAN.

Step 4: Fill in the required details based on the selected option.

Step 5: Enter the Captcha code and click Submit.

Your Sai Life Sciences IPO allotment status will be displayed on the screen.

Steps to Check the IPO Allotment on the BSE Website

Step 1: Visit the allotment page on BSE’s official website: https://www.bseindia.com/investors/appli_check.aspx

Step 2: Under ‘Issue Type,’ select Equity.

Step 3: Choose the IPO from the ‘Issue Name’ dropdown menu.

Step 4: Enter your PAN or application number.

Step 5: Click I am not a robot to confirm your identity, then hit the Submit button.

Steps to Check the IPO Allotment on the NSE Website

Step 1: Open the IPO allotment page at https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp

Step 2: Log in with your credentials.

Step 3: Select Sai Life Sciences, enter your PAN and application number, and click Submit.

Sai Life Sciences IPO GMP signals decent listing

Today’s grey market premium (GMP) for the Sai Life Sciences IPO is ₹58 per share, as per the market observers, suggesting that the shares are likely to list ₹58 above their issue price. With this GMP and an issue price of ₹549 per share, the estimated listing price is around ₹607, reflecting an 11 per cent premium over the issue price.

The grey market premium is the difference between an IPO’s issue price and its expected listing price in the unofficial market. It reflects investor sentiment and demand before the stock officially begins trading.

It is important to note that GMP is only a preliminary indicator of the listing price and should not be used as the sole basis for investment decisions.

About Sai Life Sciences

The company provides end-to-end services across the drug discovery, development, and manufacturing value chain for small molecule new chemical entities (“NCEs”) to global pharmaceutical innovators and biotechnology firms. It possesses both discovery/contract research (“CRO”) and chemistry, manufacturing, and control (“CMC”)/contract development and manufacturing organization (“CDMO”) capabilities.

Disclaimer: We advise investors to check with certified experts before taking any investment decisions.