Theranautilus Secures $1.2 Mn in Seed...
19 Nov 2024
The IPO comprises a fresh issue of Rs 800 crore and an offer for sale of up to 61.57 million shares by existing shareholders and promoters, according to the DRHP.
The offer for sale includes up to 6.45 million shares by Sai Quest Syn Pvt Ltd, 45.72 million shares by TPG Asia VII SF Pte, and up to 6.86 million shares by HBM Pvt Equity India, among others.
Leading the issue are Kotak Mahindra Capital, IIFL Securities, Jefferies India Pvt, and Morgan Stanley India Company.
Proceeds of Rs 600 crore from the fresh issue will primarily go towards debt repayment. As of March 2024, the company's consolidated outstanding borrowings totaled Rs 710.16 crore.
Sai Life Sciences operates as a contract research, development, and manufacturing organization (CRDMO), providing comprehensive services for small molecule NCEs to global pharmaceutical and biotech firms. Its capabilities span drug discovery, development, and manufacturing, including commercial and early-stage programs.
In FY24, the company reported revenue of Rs 1,465.18 crore, up from Rs 1,217.14 crore the previous year, with a net profit of Rs 82.81 crore for FY24, compared to Rs 9.99 crore in FY23. As of March 31, 2024, no single customer accounted for more than 9.55% of its revenue, highlighting its diversified client base.
Chat on WhatsApp
Request a call back
