SAI LIFE SCIENCES LIMITED FILES DRHP WITH SEBI

Bengaluru, 15th July 2024: Sai Life Sciences Limited (“SLSL” or “The Company), has filed its Draft Red Herring Prospectus (“DRHP”) with market regulator Securities and Exchange Board of India (“SEBI”).

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 Company plans to raise funds through offer of equity shares (face value ₹ 1 each) through initial public offerings. The offer comprises of fresh issue of Equity Shares aggregating up to ₹ 800 crores and offer for sale up to 61,573,120 equity share by Selling Shareholders.

Sai Life Sciences proposes to utilize net proceeds from fresh issue towards- (i) Repayment/ prepayment, in full or part, of all or certain outstanding borrowings availed by Company to ₹ 600 crores and (ii) for General corporate purposes

The Equity Shares that will be offered through the Red Herring Prospectus are proposed to be listed on the BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”).

Kotak Mahindra Capital Company Limited, IIFL Securities Limited, Jefferies India Private Limited and Morgan Stanley India Company Private Limited are the Book Running Lead Managers to the issue.