Sai Parenterals fixes price band of Rs 372-392 per share for IPO opening March 24

Hyderabad: Pharma player SAI Parenteral’s Limited has set a price band of Rs 372 to Rs 392 per equity share for its initial public offering (IPO that will open for subscription on March 24 and close on March 27, while anchor investor bidding is scheduled for March 23. The IPO, based on the book-building route, includes a fresh issue of up to Rsa 285 crore of face value Rs 5 each and an offer for sale of up to 31,57,880 equity shares by only the investor selling shareholders, as per the red herring prospectus filed by the company with the capital markets regulator Sebi. Under the allocation structure, qualified institutional buyers will receive not more than 50% of the issue, retail investors not less than 35%, and non-institutional investors not less than 15%. SAI Parenteral plans to use the net proceeds for capacity expansion, facility upgrades, research and development infrastructure, repayment of borrowings, working capital and general corporate purposes. The company has been expanding its global CDMO presence, supported by the acquisition of Noumed Pharmaceuticals in Australia and New Zealand, and is targeting growth across regulated and export markets.

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