Sai Life Sciences Soars on Market Debut with 39% Premium

Sai Life Sciences Ltd witnessed a robust debut on the stock market, closing with a 39% premium over its issue price. The company, valued at Rs 15,917.44 crore, attracted high trading volumes and plans to use proceeds for debt repayment and corporate purposes.

Sai Life Sciences Ltd experienced a stellar debut on the stock market, finishing Wednesday with a 39% premium over its issue price of Rs 549. The stock opened strong at Rs 660 on the BSE, eventually closing at Rs 765.30, a 39.39% increase.

On the NSE, the shares began trading at Rs 650 and closed at Rs 764.65, reflecting a commendable rise of 39.28%. The company's market capitalization stands at Rs 15,917.44 crore, with impressive trading volumes recorded across both stock exchanges.

The Hyderabad-based organization, known for its comprehensive services in drug discovery and development, plans to use a portion of the IPO proceeds for debt repayment. This IPO was oversubscribed 10.26 times, indicating strong market interest.

(With inputs from agencies.)