Sai Parenteral's
Table of Contents
- 01 IPO Description
- 02 IPO Parameters
- 03 IPO Roadmap
- 04 GMP History
- 05Sai Parenteral's IPO Market Lot
- 06 Sai Parenteral’s IPO Details
- 07 Sai Parenteral’s IPO Reservation
- 08 Sai Parenteral’s IPO Anchor Investors
- 09 Sai Parenteral’s IPO Dates
- 10 Sai Parenteral’s IPO Promoters & Holding Pattern
- 11 Sai Parenteral’s IPO – Objects of the Issue
- 12 About Sai Parenteral’s IPO
- 13 Sai Parenteral’s IPO Company Financial Report
- 14 Sai Parenteral’s IPO Valuation – FY2025
- 15 Sai Parenteral’s IPO Peer Group Comparison
- 16 IPO Lead Managers aka Merchant Bankers
IPO DESCRIPTION
Sai Parenteral’s IPO is a mainboard public issue of a pharmaceutical company engaged in the manufacturing of branded generic formulations and providing contract development and manufacturing (CDMO) services across domestic and international markets. The IPO comprises a mix of fresh issue (around ₹285 crore) and an offer for sale, with proceeds primarily aimed at capacity expansion, R&D development, debt repayment, and working capital needs. The issue opened on 24 March 2026 and closed on 27 March 2026, with a price band of ₹372–₹392 per share, attracting attention due to its presence in the growing pharmaceutical and export-focused segment. With a diversified product portfolio and improving financial performance, the company operates in a high-growth pharma sector, offering potential long-term opportunities for investors.
IPO PARAMETERS
IPO ROADMAP
Grey Market Premium HISTORY
| Date | GMP (₹) | Daily Change | Gain (%) |
|---|---|---|---|
| 25 Mar 2026 | ₹0.00 | - | 0.00% |
| 23 Mar 2026 | ₹0.00 | - | 0.00% |
| 19 Mar 2026 | ₹0.00 | - | 0.00% |
Sai Parenteral's IPO MARKET LOT
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 38 | ₹14,896 |
| Retail Maximum | 13 | 494 | ₹193,648 |
| S-HNI Minimum | 14 | 532 | ₹208,544 |
| S-HNI Maximum | 67 | 2,546 | ₹998,032 |
| B-HNI Minimum | 68 | 2,584 | ₹1,012,928 |
Sai Parenteral’s IPO DETAILS
| IPO Open Date | March 24, 2026 |
|---|---|
| IPO Close Date | March 27, 2026 |
| Face Value | ₹5 Per Equity Share |
| IPO Price Band | ₹372 to ₹392 Per Share |
| Issue Size | Approx ₹409 Crores |
| Fresh Issue | Approx ₹285 Crores |
| Offer for Sale | Approx 35,00,000 Equity Shares |
| Issue Type | Book Build Issue |
| IPO Listing | BSE, NSE |
Sai Parenteral’s IPO RESERVATION
| Investor Category | Shares Offered | Shares (%) |
|---|---|---|
| Anchor Investor | — Shares | —% |
| QIB (Ex. Anchor) | — Shares | 50% |
| NII | — Shares | 15% |
| Retail | — Shares | 35% |
Sai Parenteral’s IPO Anchor INVESTORS
| Anchor Bidding Date | March 23, 2026 |
|---|---|
| Shares Offered | — Shares |
| Anchor Size | ₹ — Cr. |
| Lock-in Period (50% Shares - 30 Days) | 2026 |
| Lock-in Period (50% Shares - 90 Days) | 2026 |
Sai Parenteral’s IPO DATES
| IPO Open Date | March 24, 2026 |
|---|---|
| IPO Close Date | March 27, 2026 |
| Basis of Allotment | March 30, 2026 |
| Refunds | April 1, 2026 |
| Credit to Demat Account | April 1, 2026 |
| IPO Listing Date | April 2, 2026 |
| Bidding Cut-off Time | March 27, 2026 – 5 PM |
Sai Parenteral’s IPO Promoters & Holding PATTERN
| Particular | Shares | % Share |
|---|---|---|
| Promoter Holding Pre Issue | 3,69,08,823 | 61.23% |
| Promoter Holding Post Issue | 4,41,79,231 | - |
| Promoters |
|---|
| Anil Kumar Karusala, Vijitha Gorrepati and Karusala Aruna |
Sai Parenteral’s IPO – Objects of the ISSUE
| Purpose | Amount (₹ Cr.) |
|---|---|
| Capacity Expansion & Upgradation | 110.80 |
| New R&D Centre | 18.02 |
| Repayment / Prepayment of Borrowings | 20.00 |
| Working Capital Requirements | 33.00 |
| Investment in Subsidiary (Singapore) for Acquisition | 36.00 |
| General Corporate Purpose | — |
About Sai Parenteral’s IPO
Sai Parenteral’s Ltd., founded in 2001, is one of the leading pharmaceutical companies focused on R&D and manufacturing of pharmaceutical products. The firm operates in 2 main business areas: makes and sells its own branded medicines, and also manufactures medicines for other companies internationally. Its product offerings include a wide range of medicines for various health conditions, like cardiovascular, neuropsychiatry, anti-diabetic, respiratory health, antibiotics, gastroenterology, vitamins, minerals, and supplements (VMS), analgesics, and dermatology.
Its medicines are available in various forms like tablets, injections, and syrups. Sai Parenteral’s major clients are government agencies, pharmaceutical companies, public and private hospitals, and large distributors in India. The firm operates 5 manufacturing facilities in India, mainly located in Hyderabad, known for developing medicines with international quality certifications.
Sai Parenteral’s IPO Company Financial REPORT
| Period Ended | Revenue (₹ Cr.) | Expense (₹ Cr.) | PAT (₹ Cr.) | Assets (₹ Cr.) |
|---|---|---|---|---|
| 2023 | 97.03 | 89.78 | 4.38 | 133.96 |
| 2024 | 155.18 | 142.63 | 8.42 | 268.10 |
| 2025 | 163.74 | 143.84 | 14.43 | 272.39 |
| Sep 2025 | 89.43 | 78.27 | 7.76 | 376.24 |
Sai Parenteral’s IPO Valuation – FY2025
| KPI | Values |
|---|---|
| ROE | 15.09% |
| ROCE | 28.92% |
| EBITDA Margin | 24.18% |
| PAT Margin | 8.88% |
| Debt to Equity | — |
| EPS (Basic) | ₹5.43 |
| P/E Ratio | N/A |
| RoNW | 15.09% |
| NAV | ₹35.98 |
Sai Parenteral’s IPO Peer Group COMPARISON
| Company | EPS | P/E Ratio | RoNW % | NAV | Income (₹ Cr.) |
|---|---|---|---|---|---|
| Sai Life Sciences Limited | 8.83 | 107.70 | 7.99% | 102.12 | 1,694.57 |
| InnovaCaptab Limited | 22.41 | 32.45 | 13.37% | 167.66 | 1,243.68 |
| Senores Pharmaceuticals Limited | 16.12 | 64.30 | 7.18% | 176.37 | 398.25 |
| Gland Pharma Limited | 42.40 | 44.71 | 7.63% | 555.41 | 5,616.50 |
| Industry Average | — | 62.29 | — | — | — |
IPO Lead Managers aka Merchant BANKERS
- Arihant Capital Markets Ltd.