Sai Life Sciences has finalised the share allotment process for its initial public offering (IPO), and investors can now check their allotment status. The status is available on the registrar’s website, KFin Technologies Limited, as well as on the NSE and BSE websites.
Sai Life Sciences IPO was opened from December 11 to December 13, 2024, and received strong investor interest, achieving an overall subscription of 10.27 times. The qualified institutional buyers (QIB) category was oversubscribed 29.78 times, while the non-institutional investor (NII) and retail investor portions saw subscriptions of 4.99 times and 1.39 times, respectively.
Refunds for applicants who did not receive an allotment will begin on December 17, 2024, with allotted shares credited to successful investors’ demat accounts the same day.
Sai Life Sciences is a mainboard IPO comprising a fresh issuance of 1.73 crore shares, raising ₹950 crore, and an offer for sale of 3.81 crore shares, aggregating ₹2,092.62 crore. The company plans to utilise the net proceeds for repayment or prepayment of certain outstanding borrowings and for general corporate purposes.
Successful bidders of Sai Life Sciences’ IPO received their allotted shares in their Demat accounts on December 17, 2024. The shares are scheduled to be listed on both the NSE and BSE on December 18, 2024.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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