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Sai Parenteral's IPO Details

Bookbuilding IPO | ₹440 Cr | Listing at BSE, NSE | Tue, Mar 24, 2026 - Fri, Mar 27, 2026

IPO Stats
IPO Timetable
FAQ

Sai Parenteral’s IPO is a book build issue of ₹408.79 crores. The issue is a combination of fresh issue of 0.73 crore shares aggregating to ₹285.00 crores and offer for sale of 0.32 crore shares aggregating to ₹123.79 crores.

Sai Parenteral’s IPO opens for subscription on Mar 24, 2026 and closes on Mar 27, 2026. The allotment for the Sai Parenteral’s IPO is expected to be finalized on Mar 30, 2026. Sai Parenteral’s IPO will list on the NSE and the BSE with a tentative listing date fixed as Apr 2, 2026.

Sai Parenteral’s IPO is set issue price band at ₹372 to ₹392 per share. The lot size for an application is 38 shares. The minimum amount of investment required by an individual investor (retail) is ₹14,896 (38 shares) (based on upper price). The lot size investment for sNII is 14 lots (532 shares), amounting to ₹2,08,544, and for bNII, it is 68 lots (2,584 shares), amounting to ₹10,12,928.

Arihant Capital Markets Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue.

Refer to Sai Parenteral’s IPO RHP for detailed Information.

IPO Open

Tue, Mar 24, 2026

IPO Close

Fri, Mar 27, 2026

Price Band

₹372 to ₹392

Market Cap (Pre-IPO)

₹1,731.83 Cr

IPO Details

IPO Date

24 to 27 Mar, 2026
Listing Date

Thu, Apr 2, 2026T
Face Value

₹5 per share
Price Band

₹372 to ₹392
Lot Size

38 Shares
Sale Type

Fresh capital cum OFS
Issue Type

Bookbuilding IPO
Listing At

BSE, NSE

Total Issue Size

1,04,28,288 shares (agg. up to ₹409 Cr)
Fresh Issue

72,70,408 shares (agg. up to ₹285 Cr)
Offer for Sale

31,57,880 shares of ₹5 (agg. up to ₹124 Cr)
Share Holding Pre Issue

3,69,08,823 shares
Share Holding Post Issue

4,41,79,231 shares

IPO Timetable (Tentative)

IPO Open

Tue, Mar 24, 2026
Allotment

Mon, Mar 30, 2026
Credit of Shares

Wed, Apr 1, 2026

IPO Close

Fri, Mar 27, 2026
Refund

Wed, Apr 1, 2026
Listing

Thu, Apr 2, 2026

IPO Reservation

Sai Parenteral’s IPO offers total 1,04,28,288 shares. Out of which 52,14,144 (50.00%) allocated to QIB, 15,64,243 (15.00%) allocated to NII 36,49,901 (35.00%) allocated to RII and 31,28,485 (30.00%) allocated to Anchor investors.

Investor Category	Shares Offered	% of Net Issue	% of Total Issue	Max Allottees
QIB Shares Offered	52,14,144	50.00%	50.00%	NA
− Anchor Investor Shares Offered	31,28,485		30.00%	NA
− QIB (Ex. Anchor) Shares Offered	20,85,659		20.00%	NA
NII (HNI) Shares Offered	15,64,243	15.00%	15.00%	NA
− bNII > ₹10L	10,42,829		10.00%	1,960
− sNII < ₹10L	5,21,414		5.00%	980
Retail Shares Offered	36,49,901	35.00%	35.00%	96,050
Total Shares Offered	1,04,28,288	100.00%	100.00%

IPO Lot Size

Investors can bid for a minimum of 38 shares and in multiples thereof.

Application	Lots	Shares	Amount
Retail (Min)	1	38	₹14,896
Retail (Max)	13	494	₹1,93,648
S-HNI (Min)	14	532	₹2,08,544
S-HNI (Max)	67	2,546	₹9,98,032
B-HNI (Min)	68	2,584	₹10,12,928

IPO Subscription Details

IPO Anchor Investors

Sai Parenteral’s IPO raises ₹122.64 crore from anchor investors. Sai Parenteral’s IPO Anchor bid date is March 23, 2026.
📝 Anchor Investors Letter (PDF)

Bid Date	Mon, Mar 23, 2026
Shares Offered	31,28,485
Anchor Portion (₹ Cr.)	122.64
Anchor lock-in period end date for 50% shares (30 Days)	Wed, Apr 29, 2026
Anchor lock-in period end date for remaining shares (90 Days)	Sun, Jun 28, 2026

IPO Anchor Investors List

About Sai Parenteral’s Ltd.

Incorporated in 2001, Sai Parenteral’s Ltd. is a diversified pharmaceutical formulations company with expertise in research, development, and manufacturing.

The company operates in two segments: Branded Generic Formulations and Contract Development and Manufacturing Organisation (CDMO) products and services for domestic and international markets.

The product portfolio spans multiple therapeutic areas including cardiovascular, neuropsychiatry, anti-diabetic, respiratory health, antibiotics, gastroenterology, vitamins, minerals and supplements (VMS), analgesics, and dermatology. Offerings are across dosage forms such as injectables, tablets, capsules, liquid orals, and ointments.

Sai Parenteral’s serves a wide customer base comprising central and state government agencies, pharmaceutical companies, public and private hospitals, and super stockists in India. The company entered exports in FY 2023 after acquiring two internationally accredited facilities in Hyderabad, Telangana, and now supplies to regulated

Period Ended	30 Sep 2025	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	376.24	272.39	268.10	133.96
Total Income	89.43	163.74	155.18	97.03
Profit After Tax	7.76	14.43	8.42	4.38
EBITDA	16.24	39.44	31.70	17.64
NET Worth	209.37	95.78	76.40	31.49
Reserves and Surplus	188.84	80.36	61.30	24.34
Total Borrowing	76.07	93.95	118.79	68.55
Amount in ₹ Crore

IPO Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

# Issue Objects

Est Amt (₹ Cr.)
1) Capacity expansion and upgradation of manufacturing facilities

110.80
2 Establishment of a new R&D Centre;

18.02
3 Repayment / prepayment of certain outstanding borrowings

14.30
4 Working capital requirements

33.00
5 Investment in wholly owned subsidiary, Sai Parenterals Pte Limited (Singapore), in relation to the proposed acquisition of Noumed Pharmaceuticals Pty Limited (Australia); and

35.64
6 General corporate purposes
Total

211.76

Key Performance Indicator (KPI)

KPI	Sep 30, 2025	Mar 31, 2025
ROE	5.13%	16.82%
ROCE	9.28%	28.92%
RoNW	5.09%	15.09%
PAT Margin	8.93%	8.88%
EBITDA Margin	18.68%	24.18%
Price to Book Value		10.89

Check IPO Peer Comparison here.

	Pre IPO	Post IPO
EPS (₹)	5.43
P/E (x)	72.19
Promoter Holding	61.23%	51.2%
Market Cap	₹1,731.83 Cr.

Anil Kumar Karusala, Vijitha Gorrepati and Karusala Aruna are company promoters.

Disclaimer:

The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue
The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2025 available in RHP.
The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2025 available in RHP.

IPO Review

[Dilip Davda]

SPL is a well-diversified pharmaceutical formulation development and manufacturing. It has branded generic formulations as well as CDMO products for domestic and international markets. The company has a backup of 500+ dossiers which puts is on a fast forward mode. Post completion of backward integrations and de-bottleneck of plant capacity as Australia facility it is set for speedy growth in top and bottom lines. Though the valuation is on higher side, well-informed investors can park funds for medium to long term.

Read detail review…

Sai Parenteral’s IPO Recommendations

Review By	Subscribe	May Apply	Neutral	Avoid
Brokers	2	1	0	2
Members	1	0	0	0

IPO Subscription Status

The Sai Parenteral’s IPO is subscribed 1.08 times on March 27, 2026 6:54:37 PM (Day 3). The public issue subscribed 0.12 times in the retail category, 1.73 times in the QIB category, and 2.45 times in the NII category. Check Day by Day Subscription Details (Live Status)

Category	Subscription (x)	Shares Offered	Shares bid for
QIB (Ex Anchor)	1.73	20,85,659	36,10,266
NII	2.45	15,64,243	38,31,502
bNII (> ₹10L)	3.56	10,42,829	37,07,318
sNII (< ₹10L)	0.24	5,21,414	1,24,184
Retail	0.12	36,49,901	4,39,204
Total	1.08	72,99,803	78,80,972

Total Applications: 7,938

📰 Sai Parenteral’s Ltd. – Useful Articles

›Sai Parenteral’s Limited IPO: A Track Record Built on Execution
›Sai Parenteral’s: From Domestic to Global IP-Led Platform
›Sai Parenteral’s: Accelerating Entry into Regulated Markets

IPO Lead Manager(s)

Arihant Capital Markets Ltd. (Past IPO Performance)

Lead Manager Reports

Lead Manager Performance Summary
Lead Manager Performance Tracker

IPO Registrar

Bigshare Services Pvt.Ltd.

+91-22-6263 8200
ipo@bigshareonline.com
Visit Website

Contact Details

Sai Parenteral’s Ltd. Address

Plot No 39

5th floor, Lavanya Arcade Jayabheri Enclave

Gachibowli, K.V.Rangareddy, Seri Lingampally

Hyderabad, Telangana, 500032

+91 79979 91301
cs@saiparenterals.com
Visit Website

IPO FAQs

What is the Sai Parenteral's IPO?

Sai Parenteral’s IPO is a main-board IPO of 1,04,28,288 equity shares of the face value of ₹5 aggregating up to ₹409 Crores. The issue is priced at ₹372 to ₹392. The minimum order quantity is 38.

The IPO opens on Tue, Mar 24, 2026, and closes on Fri, Mar 27, 2026.

Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

How to apply in Sai Parenteral's IPO through Angel One?

Angel One customers can apply online in Sai Parenteral’s IPO using UPI as a payment gateway. Angel One customers can apply in Sai Parenteral’s IPO by login into Angel One Console (back office) and submitting an IPO application form.

Steps to apply in Sai Parenteral’s IPO through Angel One

Visit the Angel One website and login to Console.
Go to Portfolio and click the IPOs link.
Go to the ‘Sai Parenteral’s IPO’ row and click the ‘Bid’ button.
Enter your UPI ID, Quantity, and Price.
Submit IPO application form.
Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Angel One IPO Application Process Review for more detail.

When Sai Parenteral's IPO will open?

The Sai Parenteral’s IPO opens on Tue, Mar 24, 2026 and closes on Fri, Mar 27, 2026.

What is the lot size of Sai Parenteral's IPO?

Sai Parenteral’s IPO lot size is 38, and the minimum amount required for application is ₹14,896.

How to apply for Sai Parenteral's IPO?

You can apply in Sai Parenteral’s IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don’t offer banking services. Read more detail about applying IPO online through Angel One, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.

When is Sai Parenteral's IPO allotment?

The finalization of Basis of Allotment for Sai Parenteral’s IPO will be done on Monday, March 30, 2026, and the allotted shares will be credited to your demat account by Wed, Apr 1, 2026. Check the Sai Parenteral’s IPO allotment status.

When is Sai Parenteral's IPO listing date ?

The Sai Parenteral’s IPO listing date is not yet announced. The tentative date of listing is Thu, Apr 2, 2026.