The company announced that the initial sale of shares will end on December 13, and bidding for the anchor portion will open for one day on December 10.
According to the red herring prospectus, the IPO is a combination of a fresh issue of equity shares of up to Rs 950 crore and an offer for sale (OFS) of up to 3.81 crore equity shares by promoters, investment shareholders and other shareholders. . RHP).
Under the OFS, one of the promoter entities — Sai Quest Syn Pvt Ltd — and the investor shareholder — TPG Asia VII SF Pte Ltd, HBM Private Equity India — will offload their respective shares.
Bharti Srivari, Anita Rudraraju Nandyala, Raju Panmasta, Dirk Walter Sartoor, Jagdish Vishwanath Dore, Rajagopal Sri Rama Tata and K Pandu Ranga Raju were the other selling shareholders who will also divest their stake in the company.
At the upper end of the price band, the company is going to fetch around Rs 3,042.62 crore from the IPO.
Earlier, Hyderabad-based Cy Life Sciences filed its IPO papers with the Securities and Exchange Board of India (Sebi) in July 2024 and received the markets regulator’s approval in November for the initial share sale.
Of the IPO proceeds, funds of Rs 720 crore will be used for debt repayment and a portion will be used for corporate general purposes.
Investors can bid for a minimum of 27 equity shares and multiples thereafter.
Cy Life Sciences provides end-to-end services in the drug discovery, development, and manufacturing value chain for small molecule neochemical entities (NCE), global pharmaceutical innovator companies and biotechnology firms.
For the six months ended September 2024, Cy Life Sciences reported total revenue of Rs 693.35 crore as against Rs 656.8 crore a year ago. It posted a net profit of Rs 28.01 crore in six months as against a loss of Rs 12.92 crore last year.
Kotak Mahindra Capital Company Ltd, IIFL Capital Services Ltd (formerly IIFL Securities Ltd), Jefferies India and Morgan Stanley India Company are the book-running lead managers, while KFin Technologies is the registrar of the IPO.
The company’s shares are proposed to be listed on BSE and National Stock Exchange (NSE).