APAC IPOs & Placements, Aequitas Research

Akshat Shah

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

SAI Life Sciences / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sai-life-sciences" target="_blank" data-smartkarma-citation="entities:43724:1" rel="noopener">SAI Life Sciences (SAILS12 IN)</a> raised around US$360m in its India IPO in Dec 2024. The lockup on its pre-IPO investors is set to expire soon.</li>
<li>Sai Life Sciences is a contract research, development and manufacturing organisation providing end-to-end services across drug discovery, development and manufacturing value-chain, for small to global pharmaceutical innovators and biotechnology firms.</li>
<li>In this note, we will talk about the lockup dynamics and possible placement.</li>
</ul>



SAI Life Sciences (SAILS12 IN) raised around US$360m in its India IPO in Dec 2024. The lockup on its pre-IPO investors is set to expire soon.
Sai Life Sciences is a contract research, development and manufacturing organisation providing end-to-end services across drug discovery, development and manufacturing value-chain, for small to global pharmaceutical innovators and biotechnology firms.
In this note, we will talk about the lockup dynamics and possible placement.


Sai Life Sciences IPO Lockup - US$840m Lockup Release; TPG Asia up 5.8x with a 24.8% Stake

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sai-life-sciences" target="_blank" data-smartkarma-citation="entities:43724:1" rel="noopener">SAI Life Sciences (SAILS12 IN)</a> raised around US$360m in its India IPO.</li>
<li>Sai Life Sciences is a contract research, development and manufacturing organisation providing end-to-end services across drug discovery, development and manufacturing value-chain, for small to global pharmaceutical innovators and biotechnology firms.</li>
<li>We have looked at the company’s past performance and valuations in our previous notes. In this note, we will talk about the trading dynamics.</li>
</ul>



SAI Life Sciences (SAILS12 IN) raised around US$360m in its India IPO.
Sai Life Sciences is a contract research, development and manufacturing organisation providing end-to-end services across drug discovery, development and manufacturing value-chain, for small to global pharmaceutical innovators and biotechnology firms.
We have looked at the company’s past performance and valuations in our previous notes. In this note, we will talk about the trading dynamics.


Sai Life Sciences IPO Trading - Strong Anchor Demand with Decent Overall Coverage

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sai-life-sciences" target="_blank" data-smartkarma-citation="entities:43724:1" rel="noopener">SAI Life Sciences (SAILS12 IN)</a> is looking to raise up to US$360m in its upcoming India IPO.</li>
<li>Sai Life Sciences is a contract research, development and manufacturing organisation providing end-to-end services across drug discovery, development and manufacturing value-chain, for small to global pharmaceutical innovators and biotechnology firms.</li>
<li>We have looked at the company’s past performance in our previous notes. In this note, we will talk about the IPO valuations.</li>
</ul>



SAI Life Sciences (SAILS12 IN) is looking to raise up to US$360m in its upcoming India IPO.
Sai Life Sciences is a contract research, development and manufacturing organisation providing end-to-end services across drug discovery, development and manufacturing value-chain, for small to global pharmaceutical innovators and biotechnology firms.
We have looked at the company’s past performance in our previous notes. In this note, we will talk about the IPO valuations.


Sai Life Sciences IPO - Quick Thoughts on Peer Comp and Valuation

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sai-life-sciences" target="_blank" data-smartkarma-citation="entities:43724:1" rel="noopener">SAI Life Sciences (SAILS12 IN)</a> is looking to raise up to US$360m in its upcoming India IPO.</li>
<li>Sai Life Sciences is a contract research, development and manufacturing organisation providing end-to-end services across drug discovery, development and manufacturing value-chain, for small to global pharmaceutical innovators and biotechnology firms.</li>
<li>In this note, we talk about the company’s historical performance.</li>
</ul>



SAI Life Sciences (SAILS12 IN) is looking to raise up to US$360m in its upcoming India IPO.
Sai Life Sciences is a contract research, development and manufacturing organisation providing end-to-end services across drug discovery, development and manufacturing value-chain, for small to global pharmaceutical innovators and biotechnology firms.
In this note, we talk about the company’s historical performance.


Sai Life Sciences Pre-IPO - Portfolio Expansion and Increased Production Capacity to Drive Growth

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>The IPO of SAI Life Sciences, a contract research, development, and manufacturing organization,  is scheduled to open on December 11. The IPO consists of fresh issue as well as OFS.</li>
<li>Out of the fresh issue of proceeds, the company intends to use INR7.2B for repayment/prepayment of outstanding borrowings. As of September 30, 2024, total outstanding borrowing stands at INR7.6B.</li>
<li>We have high conviction on the growth prospect of SAI Life Sciences. Considering FY25 annualized post-IPO EPS of INR2.69, the company seeks a P/E valuation of 186.9–203.8x. </li>
</ul>


The IPO of SAI Life Sciences, a contract research, development, and manufacturing organization,  is scheduled to open on December 11. The IPO consists of fresh issue as well as OFS.
Out of the fresh issue of proceeds, the company intends to use INR7.2B for repayment/prepayment of outstanding borrowings. As of September 30, 2024, total outstanding borrowing stands at INR7.6B.
We have high conviction on the growth prospect of SAI Life Sciences. Considering FY25 annualized post-IPO EPS of INR2.69, the company seeks a P/E valuation of 186.9–203.8x. 


SAI Life Sciences IPO- Growing and Profitable Business; Aggressive Pricing Limits Upside Potential

India

SAI Life Sciences Limited develops pharmaceuticals. The Company focuses on drug and active ingredient discovery, development, and manufacturing. SAI Life Sciences manages research facilities worldwide.

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SAI Life Sciences (SAILS12 IN)

Sai Life Sciences IPO Lockup - US$840m Lockup Release; TPG Asia up 5.8x with a 24.8% Stake

TPG Asia has launched an INR26.4bn (US$302m) cleanup block (14.7% stake) in Sai Life Sciences at a floor price of INR860/share, a 5.2% discount to...

Akshat Shah

Sai Life Sciences IPO Trading - Strong Anchor Demand with Decent Overall Coverage

Sai Life Sciences raised around US$360m in its India IPO. In this note, we will talk about the demand and trading dynamics.

Akshat Shah

Sai Life Sciences IPO - Quick Thoughts on Peer Comp and Valuation

Sai Life Sciences is looking to raise up to US$360m in its upcoming India IPO. In this note, we will undertake a quick peer comparison and talk...

Akshat Shah

Sai Life Sciences Pre-IPO - Portfolio Expansion and Increased Production Capacity to Drive Growth

Sai Life Sciences is looking to raise up to US$360m in its upcoming India IPO. In this note, we talk about the company’s historical performance.

Akshat Shah

SAI Life Sciences IPO- Growing and Profitable Business; Aggressive Pricing Limits Upside Potential

SAI Life Sciences intends to raise INR9.5B via India IPO. The IPO proceeds will be used for debt repayment. Marquee clientele and diverse portfolio...

Tina Banerjee

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