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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

Speciality Medicines IPO is a book build issue of ₹29.14 crores. The issue is entirely a fresh issue of 0.24 crore shares of ₹29.14 crore.

Speciality Medicines IPO bidding started from Mar 20, 2026 and ended on Mar 24, 2026. The allotment for Speciality Medicines IPO was finalized on Mar 25, 2026. Speciality Medicines IPO will list on the BSE SME on Mar 30, 2026.

Speciality Medicines IPO is set final issue price at ₹124 per share. The lot size for an application is 1,000 shares. The minimum amount of investment required by an individual investor (retail) is ₹2,48,000 (2,000 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (3,000 shares), amounting to ₹3,72,000.

Unistone Capital Pvt.Ltd. is the book running lead manager and Skyline Financial Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Aikyam Capital Private Limited.

Refer to Speciality Medicines IPO RHP for detailed Information.

IPO Open

Fri, Mar 20, 2026

IPO Close

Tue, Mar 24, 2026

Price Band

₹124 per share

Market Cap (Pre-IPO)

₹108.94 Cr

IPO Details

IPO Date

20 to 24 Mar, 2026
Listing Date

Mon, Mar 30, 2026
Face Value

₹10 per share
Price Band

₹117 to ₹124
Issue Price

₹124 per share
Lot Size

1,000 Shares
Sale Type

Fresh capital only
Issue Type

Bookbuilding IPO
Listing At

BSE SME

Total Issue Size

23,50,000 shares (agg. up to ₹29 Cr)
Reserved for Market Maker

1,50,000 shares (agg. up to ₹2 Cr) Aikyam Capital Private Limited
Fresh Issue (Ex Market Maker)

22,00,000 shares (agg. up to ₹27 Cr)
Net Offered to Public

22,00,000 shares (agg. up to ₹27 Cr)
Share Holding Pre Issue

87,85,796 shares
Share Holding Post Issue

4,41,79,231 shares
BSE Script Code

544738

ISIN

INE0R0M01014

IPO Timetable (Tentative)

IPO Open

Fri, Mar 20, 2026
Allotment

Wed, Mar 25, 2026
Credit of Shares

Fri, Mar 27, 2026

IPO Close

Tue, Mar 24, 2026
Refund

Fri, Mar 27, 2026
Listing

Mon, Mar 30, 2026

IPO Reservation

Speciality Medicines IPO offers total 23,50,000 shares. Out of which 21,000 (0.89%) allocated to QIB, 10,89,000 (46.34%) allocated to NII 10,90,000 (46.38%) allocated to RII.

Investor Category	Shares Offered	% of Net Issue	% of Total Issue
QIB Shares Offered	21,000	0.95%	0.89%
NII (HNI) Shares Offered	10,89,000	49.50%	46.34%
− bNII > ₹10L	7,26,000		30.89%
− sNII < ₹10L	3,63,000		15.45%
Retail Shares Offered	10,90,000	49.55%	46.38%
Firm Reservations
Market Maker Shares Offered	1,50,000		6.38%
Total Shares Offered	23,50,000	100.00%	100.00%

IPO Lot Size

Investors can bid for a minimum of 2,000 shares and in multiples of 1,000 shares thereof.

Application	Lots	Shares	Amount
Individual investors (Retail) (Min)	2	2,000	₹2,48,000
Individual investors (Retail) (Max)	2	2,000	₹2,48,000
S-HNI (Min)	3	3,000	₹3,72,000
S-HNI (Max)	8	8,000	₹9,92,000
B-HNI (Min)	9	9,000	₹11,16,000

IPO Subscription Details

About Speciality Medicines Ltd.

Incorporated in 2021, Speciality Medicines Limited is engaged in the marketing and distribution of finished formulations of speciality pharmaceuticals — including high-cost oral and injectable medications used to treat complex chronic conditions — across both domestic and international markets.

The company’s portfolio includes a wide range of speciality pharmaceutical finished formulations products, which are available in various dosage forms such as tablets, capsules, creams, syrups, eye drops, gels, infusions, inhalers, injections, nasal sprays, ointments, ophthalmic solutions, oral solutions, sachets, and suspensions.

The company operates via two models: (a) contract manufacturing of finished formulations for international distribution, and (b) marketing and distribution of sourced specialty pharmaceutical products.

The company has expanded internationally with registered or pending products in countries like Jordan, Ethiopia, Uganda, Peru, and Namibia. Its distribution network builds strong relationships across over 20 states in India and more than 35 countries worldwide world.

As of Feb 28, 2026, the company has 7 products registered overseas and 54 products are in the registration process across 5 countries.

Competitive Strengths

Diversified Global Presence
Diversified Product Portfolio
Long Standing Client Relationship
Experienced Promoters and Management Team
Quality Assurance

Company Financials (Restated Standalone)

Period Ended	31 Oct 2025	31 Mar 2025	31 Mar 2024
Assets	45.57	39.98	22.68
Total Income	36.93	58.54	27.66
Profit After Tax	6.06	8.61	2.93
EBITDA	6.51	9.09	5.26
NET Worth	36.47	30.42	15.06
Reserves and Surplus	30.04	23.98	9.95
Total Borrowing	4.81	5.05	2.86
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) Setting up of Research and Development (R&D) Centre at Revenue City Survey No. RV1/NA/61/1/50, Moje, Manda, Tal. Umargam, Dist. Valsad, Gujarat

12.68
2 Product Registration in International Markets and Product Development for sale in international markets

2.99
3 Funding for Marketing and Promotional Activities

1.66
4 To Meet Working Capital Requirements

8.00
5 General Corporate Purposes

0.25
Total

25.58

Key Performance Indicator (KPI)

KPI	Oct 31, 2025	Mar 31, 2025
ROE	18.11%	37.85%
ROCE	16.68%	33.39%
Debt/Equity	0.13	0.17
RoNW	16.61%	28.30%
PAT Margin	16.49%	14.77%
EBITDA Margin	17.73%	15.60%
Price to Book Value	2.19	2.62

Check IPO Peer Comparison here.

	Pre IPO	Post IPO
EPS (₹)	13.38	11.82
P/E (x)	9.27	10.49
Promoter Holding	59.28%	43.44%
Market Cap	₹108.94 Cr.

Parth B Goyani and Goyani Sumit Babubhai are the company promoters.

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 October 31, 2025 available in RHP.

IPO Review

[Dilip Davda]

SML is engaged in the business of marketing and distribution of finished formulations of specialty pharma products globally. The company marked growth in its top and bottom lines for the reported periods. Surge in profits from FY25 onwards raise eyebrows and concern over its sustainability. Though based on its recent financial data, the issue appears lucratively priced, its due to higher profits shown for recent years. Small equity base post-IPO indicates longer gestation period for migration. Well-informed/cash surplus investors may park moderate funds for medium term.

Read detail review…

Speciality Medicines IPO Recommendations

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

IPO Subscription Status

The Speciality Medicines IPO is subscribed 2.27 times on March 24, 2026 6:54:39 PM (Day 3). The public issue subscribed 0.85 times in the individual investors category, 96.24 times in the QIB category, and 1.88 times in the NII category. Check Day by Day Subscription Details (Live Status)

Category	Subscription (x)	Shares Offered	Shares bid for	Total Applications
QIB (Ex Anchor)	96.24	21,000	20,21,000	0
NII*	1.88	10,89,000	20,44,000	0
bNII (> ₹10L)	2.50	7,26,000	18,13,000
sNII (< ₹10L)	0.64	3,63,000	2,31,000
Individual Investor	0.85	10,90,000	9,22,000	0
Total	2.27	22,00,000	49,87,000	688

IPO Expenses

# Issue Expenses

Est Amt (₹ Cr.)
1 Book Running Lead Manager’s fees

0.50
2 Selling, Marketing and Underwriting Fees

2.63
3 Fees payable to Market Maker to the Issue

0.06
4 Fees payable to Registrar to the Issue

0.02
5 Fees payable for Advertising and Publishing expenses

0.10
6 Fees payable to Regulators including Stock Exchanges & Depositories

0.10
7 Payment for Printing & Stationery, Postage, etc.

0.04
8 Fees payable to Statutory Auditor, Legal Advisors and other Professionals

0.07
9 Others (Selling commission, ROC expenses, etc)

0.05
Total

3.57

IPO Registrar

Skyline Financial Services Pvt.Ltd.

02228511022
ipo@skylinerta.com
Visit Website

IPO Lead Manager(s)

Unistone Capital Pvt.Ltd. (Past IPO Performance)

Lead Manager Reports

Lead Manager Performance Summary
Lead Manager Performance Tracker

Contact Details

Speciality Medicines Ltd. Address

913, One World West, S. No. 396, FP 119,

Village- Vejalpur, Ahmadabad City,

Ahmedabad, Gujarat, India,

Ahmedabad, Gujarat, 380051

+91 22 4604 5344
investors.grievances@specialitymedicine.com
Visit Website

IPO FAQs

What is the Speciality Medicines IPO?

Speciality Medicines IPO is a SME IPO of 23,50,000 equity shares of the face value of ₹10 aggregating up to ₹29 Crores. The issue is priced at ₹124 per share. The minimum order quantity is 1000.

The IPO opens on Fri, Mar 20, 2026, and closes on Tue, Mar 24, 2026.

Skyline Financial Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.

How to apply in Speciality Medicines IPO through Angel One ?

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

Steps to apply in Speciality Medicines IPO through Angel One

Visit the Angel One website and login to Console.
Go to Portfolio and click the IPOs link.
Go to the ‘Speciality Medicines 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 Speciality Medicines IPO will open?

The Speciality Medicines IPO opens on Fri, Mar 20, 2026 and closes on Tue, Mar 24, 2026.

What is the lot size of Speciality Medicines IPO?

Speciality Medicines IPO lot size is 1000, and the minimum amount required for application is ₹2,48,000, with 2 lots being the minimum application size.

How to apply for Speciality Medicines IPO?

You can apply in Speciality Medicines 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 Speciality Medicines IPO allotment?

The finalization of Basis of Allotment for Speciality Medicines IPO will be done on Wednesday, March 25, 2026, and the allotted shares will be credited to your demat account by Fri, Mar 27, 2026. Check the Speciality Medicines IPO allotment status.

When is Speciality Medicines IPO listing date ?

The Speciality Medicines IPO listing date is on Mon, Mar 30, 2026.