Pharma firm Sai Parenterals IPO to open on March 24: Check offer size, price band, other details

Pharmaceutical company Sai Parenterals is set to launch its maiden public issue worth Rs 409 crore for subscription on March 24, aiming to raise funds for expansion and carrying out the offer-for-sale. This would be the third IPO from the mainboard segment opening next week along with Amir Chand Jagdish Kumar (Exports), and Central Mine Planning & Design Institute.

The price band for the offer has been fixed at Rs 372-392 per share, valuing the company at Rs 1,732 crore, as per PTI reports. The IPO anchor book will be launched for a day on March 23, while the offer will remain open for the public till March 27.

The IPO share allotment will be finalised by March 30, while Sai Parenterals shares will be available for trading on the bourses effective April 2.

The firm is raising up to Rs 285 crore via fresh shares, while investors including Vikasa India EIF I Fund, Tilokchand Punamchand Ostwal, Devendra Chawla, Ashish Maheshwari, Padma Guntupalli, Bhautik Mukund Shah, and Nilesh Pravinchandra Doshi will be selling 31.57 lakh shares via offer-for-sale.

Sai Parenterals that provides branded generic formulations and CDMO (contract development and manufacturing organisation) products and services through its five manufacturing facilities in Telangana and Andhra Pradesh.

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The company will spend Rs 110.7 crore of proceeds from the fresh issue for capacity expansion and upgradation of manufacturing facilities, and Rs 18 crore for establishment of a new R&D centre.

Further, nearly Rs 50 crore will be used for repaying certain borrowings, Rs 33 crore for working capital requirements, and the balance funds for general corporate purposes.

Last year in November, Sai Parenterals that offers formulation products across various therapeutic areas like cardiovascular, neuropsychiatry, anti-diabetic, respiratory health, antibiotics, gastroenterology, vitamins, and minerals and supplements has acquired Noumed Pharmaceuticals (Australia), a supplier of private-label and over-the-counter pharmaceuticals, through its Singapore subsidiary.

Promoters hold 61.23 percent stake in Sai Parenterals, and the remainder 38.77 percent shares are owned by public shareholders including Samarsh Capital Fund, AIG Direct, Agilis Partners, and Vikasa India.

On the financial front, the company has recorded profit of Rs 7.7 crore on revenue of Rs 86.9 crore for six months period ended September 2025. In the financial year ended March 2025, profit was Rs 14.4 crore, growing 71.8 percent from Rs 8.4 crore in previous year. Revenue during the same fiscals rose 6 percent to Rs 163.1 crore from Rs 153.8 crore.

Arihant Capital Markets is the sole merchant banker managing the Sai Parenterals IPO.