Sai Parenteral's Ltd raised over Rs 122 crore from anchor investors ahead of its IPO launch, aimed at expanding its global formulations and manufacturing capabilities. Major investors include Morgan Stanley Asia and Kotak Lifesciences Fund. The IPO opens on March 24 with a price band of Rs 372-392.

Sai Parenteral's IPO Success: A Critical Expansion Move

Sai Parenteral's Ltd, a key player in the pharmaceutical formulation sector, has successfully raised more than Rs 122 crore from anchor investors in anticipation of its initial public offering (IPO).

The Hyderabad-based company is set to open its maiden IPO for subscription between March 24 and March 27, with a price band of Rs 372 to Rs 392 per share. Anchor investors include prominent names such as Morgan Stanley Asia and Quant Mutual Fund.

Proceeds from the IPO will assist the company in strengthening its global formulations and enhancing its contract development and manufacturing capabilities across injectable and oral solid dosage formulations.

(With inputs from agencies.)