The initial public offering (IPO) of Sai Parenteral’s, a diversified pharmaceutical formulations company, which opened for subscription today, March 23, received a muted response from investors.
By the end of the day, the issue was subscribed just 0.05 times, with 3.35 lakh shares bid for against 72.99 lakh shares on offer, according to exchange data.
The retail portion was subscribed 0.03 times, while the non-institutional investor (NII) portion was subscribed 0.15 times. The qualified institutional buyer (QIB) portion has not yet opened for bidding. Ahead of the issue opening, the company ₹122.6 crore from anchor investors”>raised ₹122.6 crore from anchor investors.
Sai Parenteral’s IPO details
The initial public offering (IPO) of Sai Parenteral’s has opened for bidding today and will remain open until Friday, March 27, 2026, with a price band of ₹372– ₹392 per share.
The IPO is a combination of a fresh issue of 0.73 crore shares aggregating to ₹285 crore and an offer for sale of 0.32 crore shares aggregating to ₹123.79 crore.
The offer is being made through the book-building process, wherein not more than 50% of the net offer is allocated to qualified institutional buyers (QIBs), while not more than 15% and 35% of the net offer are reserved for non-institutional investors (NIIs) and retail individual investors, respectively.
Investors can apply for the Sai Parenteral’s IPO in lots of 38 shares. A retail investor would need to invest ₹14,896 to apply for one lot, based on the upper price band.
The company plans to utilise the proceeds from the fresh issue, with ₹111 crore earmarked for capacity expansion and upgradation of manufacturing facilities, ₹18 crore for the establishment of a new R&D centre, and ₹14.30 crore for debt repayment. The remaining portion will be used for general corporate purposes.
The allotment status for the Sai Parenteral’s IPO is slated to be finalised on March 30, with the tentative listing date set for April 2.
Meanwhile, the grey market premium (GMP) of Sai Parenteral’s is showing nil, indicating that the stock might list at the same price as the IPO price.
About Sai Parenterals
The company is a diversified pharmaceutical formulations player with capabilities in research, development, and manufacturing. It operates in the branded generic formulations segment and also provides contract development and manufacturing organisation (CDMO) products and services for domestic and international markets.
Its portfolio includes formulation products across various therapeutic areas such as cardiovascular, neuropsychiatry, anti-diabetic, respiratory health, antibiotics, gastroenterology, vitamins, minerals and supplements (VMS), analgesics, and dermatology. It offers a wide range of dosage forms, including injectables, tablets, capsules, liquid orals, and ointments.
In the injectables segment, the company has capabilities in sterile manufacturing for critical care and penicillin-based therapies, offering delivery systems such as dry powder injections, pre-filled syringes, ampoules, and vials, according to company’s DRHP report.
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