Sai Life Sciences shares fall 4% as TPG eyes ₹2,500 cr stake sale via block deals

Shares of Sai Life Sciences dropped nearly 4% in opening trade on Tuesday, extending losses for the second straight session amid a surge in volumes. The sell-off followed reports that global private equity major TPG Capital plans to sell up to 14.72% stake, or about 3.07 crore shares, in the Hyderabad-based healthcare-focussed firm via block deals.

According to reports, the floor price for the deal has been set at ₹860 per share, a 5.4% discount to the company’s last closing price of ₹906.60 on the BSE. The total transaction value is estimated at around ₹2,500 crore.

Driven by heavy volumes, shares of Sai Life Sciences fell by as much as 3.98% to ₹870.45 on the BSE. The company’s market capitalisation slipped nearly ₹629 crore to ₹18,278 crore, as more than 20 lakh shares changed hands, sharply higher than the two-week average of 25,000.

Sai Life Sciences made its debut on the BSE and the NSE on December 18, 2024, after raising ₹3,042.62 crore through an initial public offering (IPO) at an issue price of ₹549 per share. At current levels, the stock is trading 60% above its IPO price. The counter had hit a record high of ₹943 in the previous session, while its 52-week low stands at ₹635.30, touched on April 9, 2025.

In calendar year 2025, the healthcare stock has gained 15%, while it has added nearly 6% in the past one month. Meanwhile, the benchmark BSE Sensex and NSE Nifty were trading down by 0.6% each, tracking weak global cues.

As of June 30, 2025, TPG Capital held a 14.72% stake in Sai Life Sciences. The private equity major, which first invested in the company in 2018 and once held as much as 43.4%, had gradually pared its holding. By March 2025, through its affiliate TPG Asia VII SF PTE Ltd, the stake had come down to 24.73%.

In June 2025, TPG sold a 10% stake via block deals for about ₹1,505 crore, bringing down its shareholding from 24.73% to 14.72%. The fresh block deal will mark TPG’s full exit from Sai Life Sciences.

Earlier this month, Sai Life Sciences reported its earnings for the April-June quarter of FY26, posting a profit after tax (PAT) of ₹60 crore, compared to a net loss of ₹13 crore in the corresponding quarter last year.

Revenue from operations jumped 77% year-on-year (YoY) to ₹496 crore, up from ₹280 crore in Q1FY25. The growth was led by a 113% surge in the contract development and manufacturing organisation (CDMO) segment and a 38% rise in discovery services revenue.

On the operating front, earnings before interest, tax, depreciation, and amortisation (EBITDA) came in at ₹125 crore, up 303% YoY, with margins improving to 11%.

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