Sai Parenteral’s IPO allotment likely today: Check status, GMP, other details

Synopsis

Sai Parenteral's IPO share allotment is expected today, with investors able to check their status on BSE or the registrar's website. The issue was subscribed 1.05 times, driven by non-institutional investors, while retail interest was low. The stock is slated for listing on April 2.

The share allotment for Sai Parenteral’s IPO is likely to be finalised by today. Investors who applied for the mainboard issue can check the allotment status by visiting the BSE or the website of the registrar, Bigshare Services Pvt Ltd. On the allotment date, investors learn about the number of shares allotted to them against the bids made.

Sai Parenteral’s IPO subscription status

The mainboard issue that closed on Friday, was subscribed 1.05 times over a three-day bidding period. It received over 78.80 lakh share bids against 75,22,486 equity shares available for booking.

The demand was mainly driven by non-institutional investors' (NII) who subscribed the issue 2.36 times. Qualified Institutional Buyers (QIBs) subscribed the IPO 1.71 times their quota, while Retail Individual Investors (RIIs) hardly showed any interest, subscribing just 12% shares of the available quota.

Here's how you can check the status on BSE:

Step 1: Visit the BSE 'Status Application Check' page https://www.bseindia.com/investors/appli_check.aspx

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Step 2: Select Issue Type: Equity/Debt

Step 3: Put PAN/Application No. and enter checkbox 'I'm not a robot'.

Step 4: Submit 'Search'

Its stock is expected to get listed on April 2.

About Sai Parenteral’s IPO

The company has set the price band at Rs 372– 392 per share and retail investors can make applications for a minimum of 1 lot which comprises 38 equity shares amounting to Rs 14,896.

The IPO's fresh issue aggregates up to Rs 285 crores while the OFS aggregates up to Rs 123.79 crores which includes anchor investor portion of 31,28,485 equity shares.

The company raised Rs 122.63 crore on Monday through five anchor investors.

It has reserved 50% of the issue for qualified institutional buyers (QIBs), up to 35% for retail investors and 15% for non-institutional investors (NIIs).

Sai Parenteral’s IPO GMP

Shares of Sai Parenteral’s were not commanding any grey market premium (GMP) ahead of the opening of the issue. This implies a flat listing. The GMP is only an indicative price and could change as the issue progresses.

Sai Parenteral’s IPO net proceeds

The gross proceeds from the issue will be to the tune of Rs 285 crore. The company will utilise Rs 110.8 crore towards capacity expansion and upgradation of manufacturing facilities, Rs 18 crore for establishment of a new R&D Centre, Rs 14 crore towards repayment of borrowings, and Rs 33 crore for its working capital requirements.

About Sai Parenteral’s

Sai Parenteral’s (SPL) is a diversified pharmaceutical formulations company engaged in the business of branded generic formulations and Contract Development and Manufacturing Organisation (CDMO) products & services for the domestic and international markets. The company’s portfolio includes formulation products, covering both high-value and high-volume categories across therapeutic areas like cardiovascular, neuropsychiatry, anti-diabetic, etc., with offerings across dosage forms such as injectables, tablets, capsules, liquid orals and ointments.

Sai Parenteral’s Financials

The company's revenue from operations in H1FY26 stood at Rs 303 crore while its profit after tax (PAT) stood at Rs 2 crore. For FY25, revenue stood at Rs 495 crore versus Rs 154 crore in FY24 and Rs 97 crore in FY23. The PAT stood at Rs 20 crore in FY25 versus Rs 8 crore in FY24 and Rs 4 crore in FY23.

Sai Parenteral’s IPO lead managers

The Book Running Lead Managers (BRLMs) is Arihant Capital Markets Ltd while the registrar to the issue is Bigshare Services Pvt Ltd.

(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

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