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PE investors to win big in Sai Life Sciences' IPO
Mint Mumbai
|December 10, 2024
TPG Asia, HBM stand to make gains of 4x to 13x at upper end of price band
Sai Life Sciences investors such as TPG Asia and HBM Private Equity India are expected to make windfall gains in the company's ₹3,000-crore initial public offering (IPO) that opens for subscription on Wednesday, according to a Mint analysis.
The IPO consists of a fresh issue of shares worth ₹950 crore and an offer for sale (OFS) of 38.1 million shares with a face value of ₹1 each, bringing the total issue size to ₹2,940-3,043 crore. The company plans to use 75% of the IPO proceeds to repay or prepay in full or part certain outstanding borrowings, and the remaining for general corporate purposes.
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