Sai Life Sciences Limited, established in 1999, is a contract research, development, and manufacturing organization (CRDMO) providing services in drug discovery, development, and manufacturing. The company offers capabilities in chemistry, manufacturing, and control (CMC) and contract research (CRO) for small-molecule new chemical entities. It serves over 280 pharmaceutical companies and operates globally, with facilities in the US, UK, and India. The company employs over 2,300 scientific staff and has received multiple regulatory approvals from authorities including the USFDA and CDSCO.
Issue size
Funds to be Raised in the IPO
Amount
Overall
₹3,042.62 crores
Fresh Issue
₹950.00 crores
Offer for sale
₹2,092.62 crores
The utilisation of proceeds:
Purpose
INR crores (%)
Repayment/Pre-payment of borrowings
720.00 (75.79%)
General corporate purposes
230.00 (24.21%)
Financial Snapshot
Financial Year Ended
March 2022
March 2023
March 2024
September 2024
Total Assets
2164.23
2,186.65
2,275.14
2,476.78
Revenue
897.74
1245.11
1,494.27
693.35
Profit After Tax
6.23
9.99
82.81
28.01
*All figures are in ₹ Crores.
Strengths
Integrated Indian CRDMO offering discovery, development, and manufacturing services.
Portfolio includes 50 late-phase and commercial products as of September 30, 2024.
Diverse mix of commercial drugs and under-development molecules with blockbuster potential.
CRDMO model enables proximity-based development and manufacturing in India.
Broad customer base, including top global pharmaceutical companies.
Risk factors
Dependence on biotechnology and pharmaceutical customers subject to market and funding risks.
R&D outcomes may fail to meet customer expectations, leading to project discontinuation.
Low success rate in drug development impacts overall financial performance.
Risks from international operations, including delays and regulatory challenges.
Loss-making subsidiaries may adversely impact overall financials.
Pricing pressure from customers may affect margins and profitability.
High working capital requirements could strain financial resources.
No proceeds from the Offer for Sale portion will benefit the company.