HBM Healthcare Gains from Sai Life Sciences' IPO

HBM Healthcare Investments AG announced a successful initial public offering (IPO) of its portfolio company, Sai Life Sciences, on the Indian stock exchanges NSE and BSE. This IPO has boosted the net asset value (NAV) per HBM share by 3.2%. HBM sold 60% of its stake in Sai, generating net proceeds of INR 3.26 billion (CHF 34.3 million), while retaining 40% of the shares, valued at INR 3.17 billion (CHF 33.3 million).

The IPO involved the issuance of 17.3 million new shares by Sai Life Sciences, raising INR 9.5 billion (CHF 100 million), alongside a placement of 38.1 million shares from existing shareholders, totalling INR 20.9 billion (CHF 220 million). The stock closed 39.3% higher on its first trading day, illustrating investor confidence.

Founded in 1999 and based in Hyderabad, Sai Life Sciences specializes in research, development, and manufacturing services for biotech and pharmaceutical firms globally.