Chandigarh,7th December 2024: Sai Life Sciences Limited (“Sai Life” or “The Company”), proposes to open the Bid / Offer Period in relation to its initial public offer of the Equity Shares (“Offer”) on Wednesday, December 11, 2024.

The Offer comprises a fresh issue of such number of Equity Shares by the Company aggregating up to ₹9,500 million (The “Fresh Issue”) and offer for sale of up to 38,116,934 Equity Shares (“Offer for Sale”) by certain existing shareholders of the Company (the “Selling Shareholders”). (The “Total Offer Size”)

The Company proposes to utilise the Net Proceeds towards repayment/prepayment, in full or part, of all or certain outstanding borrowings availed by the Company estimated to be ₹7,200 million and balance amount towards general corporate purpose. (The “Objects of the Offer”)

The Offer for Sale comprises up to 6,454,780 Equity Shares by Sai Quest Syn Private Limited (the “Promoter Selling Shareholder”), up to 23,159,368 Equity Shares by TPG Asia VII SF Pte Ltd, up to 6,210,186 Equity Shares by HBM Private Equity India (collectively, the “Investor Selling Shareholders”) and up to 650,000 Equity Shares by Bharathi Srivari, up to 500,000 Equity Shares by Anita Rudraraju Nandyala, up to 500,000 Equity Shares by Raju Penmasta, up to 250,000 Equity Shares by Dr. Dirk Walter Sartor, up to 245,100 Equity Shares by Jagdish Viswanath Dore, up to 62,500 Equity Shares by Rajagopal Srirama Tatta, up to 80,000 Equity Shares by K Pandu Ranga Raju and up to 5,000 Equity Shares by Venkata Narasimha Sastry Renduchintala (collectively, The “Other Selling Shareholders”)

The Anchor Investor Bid/Offer Period opens and closes on Tuesday, December 10, 2024. The Bid/Offer Period will open on Wednesday, December 11, 2024 for subscription and close on Friday, December 13, 2024. (The “Bid Details”)

The Price Band of the Offer has been fixed at ₹522 to ₹ 549 per Equity Share (the “Price Band”). Bids can be made for a minimum of … Equity Shares and in multiples of … Equity Shares thereafter. (The “Bid Lot”).

This Equity Shares are being offered through the Red Herring Prospectus of the Company dated December 5, 2024 filed with the Registrar of Companies, Telangana at Hyderabad. (The “RoC”)

The Equity Shares to be offered through the Red Herring Prospectus are proposed to be listed on the stock exchanges being BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE” together with BSE, the “Stock Exchanges”). For the purposes of the Offer, NSE is the Designated Stock Exchange. (The “Listing Details”)

Kotak Mahindra Capital Company Limited, IIFL Capital Services Limited (Formerly known as IIFL Securities Limited), Jefferies India Private Limited and Morgan Stanley India Company Private Limited are the book running lead managers to the Offer (The “BRLMs”).

All capitalised terms used herein but not defined shall have the same meaning as ascribed to them in the RHP.

The Offer is being made through the Book Building Process, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”) read with Regulation 31 of the SEBI ICDR Regulations and in compliance with Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs” and such portion, the “QIB Portion”), provided that our Company may, in consultation with the BRLMs, allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the remaining QIB Portion (“Net QIB Portion”).

Further, 5% of the Net QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis only to Mutual Funds, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining QIB Portion for proportionate allocation to QIBs.

Further, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders of which (a) one third shall be reserved for applicants with application size of more than ₹ 200,000 and up to ₹ 1,000,000; and (b) two third shall be reserved for applicants with application size of more than ₹ 1,000,000, provided that the unsubscribed portion in either of such sub-categories may be allocated to applicants in the other sub-category of Non-Institutional Bidders, and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders (“RIBs”) in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. All potential Bidders (except Anchor Investors) are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process providing details of their respective ASBA accounts, and UPI ID in case of UPI Bidders, if applicable, in which the corresponding Bid Amounts will be blocked by the SCSBs or Sponsor Banks under the UPI Mechanism, as applicable, to participate in the Offer. Anchor Investors are not permitted to participate in the Offer through the ASBA process. For details, see “Offer Procedure” beginning on page 393 of the RHP.