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Blockbuster Exit: TPG Asia’s Sai Life Sciences Stake Sale Signals New Chapter for Pharma Star


Updated: June 20, 2025 21:05

Image Source: The Economic Times, Business Standard

In a large market deal on June 20, 2025, private equity giant TPG Asia VII SF PTE sold nearly 20.8 million shares—10% equity—of Sai Life Sciences in a series of block deals at the BSE. The deal, which was upsized from a proposed sale of 6% stake, is worth more than ₹1,480 crore, on the fixed base price of ₹710 a share for the deal.
 
Key Highlights
Deal Size & Structure:
  • TPG Asia sold 20.8 million shares (approximately 10% of Sai Life Sciences' holding) in block deals, higher than previously reported sale of a 6% holding (12.5 million shares).
  • Offer price for transaction was set at ₹710 a share, 2.5% lower than the closing price of the previous session.
  • The transaction is valued at more than ₹1,480 crore
Post-Deal Lock-in: TPG Asia is also locked up for 60 days, so it cannot sell more Sai Life Sciences shares until that time.
 
Advisors: The sale was advised by Jefferies and IIFL Capital.
 
Shareholding Pattern: As of March 2025, TPG Asia held 24.7% of Sai Life Sciences. Promoters held 35.2%, FIIs held 12.4%, DIIs held 13.3%, and public shareholders held 39.2%.
 
Company Performance:
Sai Life Sciences reported robust Q4FY25 numbers:
  • Revenue: ₹579 crore (32% growth YoY)
  • Net Profit: ₹88 crore (57% up YoY)
  • EBITDA margin: 27.2%
  • FY25 net profit more than doubled to ₹170 crore.
  • The company expects to achieve revenues CAGR of 15–20% in the next 3–5 years and margins of 24% to 30%.
Market Reaction:
Stocks fell slightly after the announcement, as is expected with the massive equity shift and discount pricing. The stock has traded between ₹636 and ₹809 in the past year, with the current market cap around ₹15,200 crore.
 
Business Profile:
Hyderabad-based Sai Life Sciences is among the leading contract research, development, and manufacturing organizations (CRDMO) serving global pharmaceutical and biotech firms. It went public in Indian exchanges in December 2024.
 
Prospects:
The block sale of the large block represents a pre-planned exit for TPG Asia, realizing considerable value after the IPO lock-in period has ended. With robust finances and aggressive growth plans, Sai Life Sciences is one to watch in the Indian pharma services space. 
 
Source: Moneycontrol, CNBC-TV18, Economic Times

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