Sai Life Sciences Limited announced that ICRA Limited has assigned credit ratings to the company's banking facilities totaling ₹768.60 crore on February 26, 2026. The pharmaceutical company informed stock exchanges about the rating communication received at 04:44 PM (IST) under Regulation 30 of SEBI listing requirements.

Credit Rating Details

ICRA Limited assigned two distinct ratings covering different facility types for Sai Life Sciences:

The [ICRA]AA(Stable) rating indicates high degree of safety regarding timely servicing of financial obligations, while the [ICRA]A1+ rating represents the highest degree of safety regarding timely payment of short-term financial obligations.

Banking Partner Distribution

The rated facilities are distributed across eight major banking institutions, with State Bank of India holding the largest share:

Fund-Based Facilities (₹550.00 Crore)

Non-Fund Based and Derivative Facilities (₹218.60 Crore)

The short-term facilities include non-fund based facilities and derivative limits across the same banking partners, with State Bank of India again leading with ₹75.60 crore (including ₹70.00 crore non-fund based and ₹5.60 crore derivative limit), followed by IndusInd Bank at ₹48.00 crore and ICICI Bank at ₹42.00 crore.

Rating Timeline and Surveillance

All ratings were assigned on February 25, 2026, and communicated to the company on February 26, 2026. ICRA indicated that these ratings will become due for surveillance within one year from the rating communication date. The rating agency reserves the right to review and revise the ratings based on new information or changing circumstances that could impact the company's creditworthiness.

Regulatory Compliance

Sai Life Sciences fulfilled its disclosure obligations by informing both NSE (Scrip Symbol: SaiLife) and BSE (Scrip Code: 544306) about the rating assignment. The communication was signed by Runa Karan, Company Secretary & Compliance Officer, ensuring proper regulatory compliance under SEBI listing requirements.

Sai Life Sciences Limited has issued a revised intimation regarding the allotment of equity shares under its Employee Stock Option Plans, correcting an earlier omission. The company initially reported the allotment of 1,29,007 shares but has now revised this to 1,39,007 shares after inadvertently omitting 10,000 ESOP shares from the previous intimation dated February 23, 2026.

Revised Share Allotment Details

The Board of Directors approved the allotment of fully paid-up equity shares of Re.1 each on February 22, 2026, under two distinct employee stock option schemes:

The shares have been issued in dematerialized form with distinctive numbers ranging from 211629128 to 211768134. All shares carry the ISIN number INE570L01029 and are identical to existing equity shares in all respects.

Financial Impact

The revised exercise of stock options generated increased proceeds for the company:

Regulatory Compliance and Filing

The company has filed the required statements with BSE and NSE on January 08, 2025, receiving filing numbers for both exchanges under each scheme. The revised intimation was submitted on February 26, 2026, signed by Company Secretary & Compliance Officer Runa Karan.

Scheme Characteristics

Both ESOP schemes are designed to attract, retain, and reward employees while contributing to the company's growth. The schemes feature a maximum vesting period of 5 years with multiple vesting options and exercise periods extending until the employee remains in company service. The pricing is determined by the Nomination and Remuneration Committee in compliance with applicable accounting standards and SEBI regulations.

The allotment has been conducted in full compliance with SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The shares are not subject to any lock-in restrictions and no additional listing fees are payable for this allotment.