The bidding window for Sai Parental’s IPO is closing today on March 27, 2026. The company launched its Iinitial Public Offering (IPO) on March 24, 2026 with an issue size of ₹408.79 crore. The allotment process is expected to be finalised on March 30, 2026, and the shares will be listed on both BSE and NSE, with a tentative listing date of April 2, 2026.

Sai Parenteral's Limited is engaged in the manufacturing and supply of pharmaceutical formulations. Its product portfolio spans multiple therapeutic areas, including cardiovascular, antidiabetic, antibiotic, gastroenterology, and dermatology, and includes dosage forms such as injectables, tablets, capsules, and liquid orals.

Sai Parenteral's IPO - Issue Details

Sai Parenteral's IPO is a book-building issue of ₹408.79 crore comprising a fresh issue of ₹285 crore and an offer for sale (OFS) of 0.32 crore equity shares, aggregating to ₹123.79 crore.

The IPO price band is fixed at ₹372 to ₹392 per share, and the minimum lot size required for an application is 38. The minimum investment required by retail investors is ₹14,896 (38 shares) based on the upper price.

Arihant Capital Markets Limited is the book-running lead manager, and Bigshare Services Private Limited is the registrar of the issue.

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Sai Parenteral's IPO Day 3 Subscription Status

[March 27, 2026, 10:54 AM]

On Day 3, Sai Parenteral's IPO saw a subscription of 0.43 times as per the NSE data on March 27, 2026, 10:54 a.m. The public issue was subscribed to 0.07 times by Retail Individual Investors (RIIs), 1.08 times by Non-Institutional Investors (NIIs), and 0.60 times by Qualified Institutional Buyers (QIBs).

Utilisation of Proceeds

The Company will utilise the net proceeds from the fresh issue towards the following purposes:

Capacity expansion and upgradation of manufacturing facilities.
Establishment of a new R&D Centre.
Repayment/prepayment of certain outstanding borrowings.
Working capital requirements.
Repayment of bridge loan and term loan availed for investment in wholly owned subsidiary, Sai Parenterals Pte Limited (Singapore), in relation to the acquisition of Noumed Pharmaceuticals Pty Limited (Australia).
General corporate purposes.

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Sai Parenteral’s Limited GMP

As per media reports, the Grey Market Premium (GMP) of Sai Parenteral’s Limited is reported at 0.

About Sai Parenteral’s Limited

Sai Parenteral's Limited is engaged in the manufacturing and supply of pharmaceutical formulations, with a diversified portfolio across therapeutic areas such as cardiovascular, antidiabetic, antibiotics, gastroenterology, and dermatology. The company offers a range of dosage forms including injectables, tablets, capsules, and liquid orals, with a strong focus on sterile and critical care products.

The company serves a broad client base comprising government institutions and pharmaceutical companies and operates as an unlisted public company with manufacturing and R&D facilities in Telangana.

Financially, the company has shown consistent growth, with revenue rising from around ₹97 crore in FY23 to approximately ₹163 - 164 crore in FY25, while profit after tax increased to about ₹14 - 15 crore over the same period.

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