TPG Asia, an affiliate of global private equity giant TPG, has fully exited pharma company Sai Life Sciences, offloading its remaining 14.72% stake (3.07 crore shares) for ₹2,675.6 crore via open market transactions.
According to bulk and block deal data, TPG Asia VII SF sold the shares in three tranches at prices between ₹871.01 and ₹871.86 per share.
The exit marks huge gains for the PE investor. TPG’s average acquisition cost for the stake was ₹127.27 per share, valuing its holding at ₹390.8 crore. With this sale, TPG pocketed profits of about ₹2,285 crore, as per Sai Life’s IPO prospectus.
Before the IPO in December 2024, TPG held a 38.83% stake (7.47 crore shares) in the company. It sold 2.3 crore shares during the IPO through an offer-for-sale and gradually offloaded the remaining stake in subsequent months, culminating in today’s exit.
Sai Life Sciences listed on December 18, 2024, at ₹549 per share and has since rallied nearly 57% to ₹861.1. On Tuesday, the stock slipped 5.06% after TPG’s bulk sale.
Key Buyers
- Goldman Sachs (Singapore) Pte: 11.04 lakh shares at ₹871.05 (₹96.2 crore)
- Societe Generale: 14.06 lakh shares at ₹871 (₹122.5 crore)
Other Market Action
- Edelweiss Financial Services jumped 6.97% to ₹107.92 after Sunil Singhania’s Abakkus Asset Manager bought 64.3 lakh shares at ₹100 each.
- Sona BLW Precision Forgings: Integrated Core Strategies (Asia) acquired 1.04 crore shares at ₹454.51, worth ₹474.5 crore.
- Vikram Solar: Debut session closed at ₹356.4, up 7.35%. Plutus Wealth bought 20 lakh shares worth ₹70.47 crore.
- Sammaan Capital: Plutus Wealth purchased 42.5 lakh shares worth ₹50.86 crore.
- Vishal Mega Mart: BNP Paribas and ICS sold 7.94 crore shares for ₹1,213.4 crore; stock still up 2.85%.
- Waaree Energies: Stock gained 3.62% despite BNP Paribas selling 17.8 lakh shares for ₹582.6 crore.
- Hitachi Energy India: BNP Paribas sold 4.19 lakh shares worth ₹829.7 crore; stock up 1.7%.
- Patel Retail: Strong listing, closing 12.82% higher at ₹287.7.
- Nexus Select Trust: iShares Core MSCI Emerging Markets ETF picked up 75.77 lakh units for ₹110.6 crore.
- Veranda Learning Solutions: Promoters sold 66 lakh shares worth ₹151.8 crore; Authum Investment and Goldman Sachs emerged as buyers
Disclaimer: This article is for informational purposes only and is based on publicly available exchange data and news reports. It does not constitute investment advice or a recommendation to buy or sell any securities. Readers are advised to consult a qualified financial advisor before making any investment decisions.
