Sai Life Sciences is looking to expand its Research & Development (R&D) capabilities as it reels at the equity markets. The Telangana-based pharma company is expanding its capacity in its home state.
Sai Life Expands R&D
In an exchange filing, the company informed the markets that the company had entered into a long-term lease agreement for acquiring an area.
This said land is about 1.21 acres in size, and comes with certain building structures. The land is located in Shamirpet, Hyderabad.
A total of Rs 15 crore was incurred in this investment. This property will be used to build an R&D facility in order to complement the existing Unit II Hyderabad facility.
The company added that the investment will be funded from internal accruals.
This facility is expected to be partially operational in about a years time, by Q4 of financial year ending March 2026.
Sai Life Science Shares In Red
When we look at the company shares, we see that they have performed underwhelmingly in the recent past.
Sai Life Sciences Ltd was listed on the Bombay Stock Exchange and the National Stock Exchange on December 18, 2024.
The company shares closed in red with deep cuts on Friday, January 24. The company shares dropped in value by 3.05 per cent or Rs 21.25. Over the past 5 trading sessions, the value of the company shares have declined by 5.83 per cent or Rs 41.75.
When we zoom out and look at the overall performance of the company since its listing over a month ago, the company shares have traded in the red. The company has lost 9.59 per cent in the month.
Furthermore, the ever since its listing at the exchanges, the shares of Sai Life Sciences have dropped in value by a cumulative of 4.14 per cent or 29.15, slumping to Rs 674.50.
The company's all-time high figure stands at Rs 808.80 per share. The shares were listed at Rs 650, against its issue price of Rs 549.
