India's Sai Life Sciences gains 28% in trading debut

Vishal Mega Mart

18/12/2024 05:10

** Shares of TPG-backed drugmaker Sai Life Sciences
 SAIE.NS  rise 28% to 706.4 rupees in debut trade
    ** Shares priced at 650 rupees vs offer price of 549 rupees
    ** SAIE's $353 mln IPO was subscribed 10.3 times last week
    ** Co benefits from robust product pipeline and serves over
280 clients - KR Choksey Research analysts
    ** However, significant reliance on key clients, limited
diversification across treatment areas and high infrastructure
costs pose risks to sustained profitability, brokerage says
    ** SAIE aims to use IPO proceeds for purposes including
repayment or prepayment of outstanding borrowings
    ** Fintech firm One MobiKwik Systems  ONEM.NS  and budget
retailer Vishal Mega Mart  VSSL.NS , which also debuted today,
up 77% and 37%, respectively

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com))