Sai Parenteral's IPO to open on March 24: Check all key details here

Sai Parenteral's, a diversified pharmaceutical formulation company, is set to launch its initial public offering (IPO) on Tuesday, March 24. The subscription window will close on March 27. The company has fixed a price band of Rs 372 to Rs 392 per share.

The IPO aims to raise Rs 408.79 crore, comprising fresh shares worth Rs 285 crore and an offer for sale (OFS) of Rs 123.79 crore. The OFS will see several existing shareholders offloading their stakes.

Among those participating in the OFS are Vikasa India EIF I Fund, Tilokchand Punamchand Ostwal, Bhanwar Lal Chandak, Devendra Chawla, Sreelekha Ganta, Ashish Maheshwari, Vijay Gondi, Padma Guntupalli, Nilesh Pravinchandra Doshi and Bhautik Mukund Shah.

The proceeds from the fresh issue will be utilised for capacity expansion and upgrading manufacturing facilities. The company also plans to set up a new research and development centre. Additionally, funds will be used for debt repayment, working capital requirements and general corporate purposes.

The minimum lot size for the IPO is 38 shares. The net offer is divided with 50 per cent reserved for qualified institutional buyers, 35 per cent for retail investors and 15 per cent for non-institutional investors.

Sai Parenteral's operates in the pharmaceutical formulations sector, with capabilities in research, development and manufacturing. The company focuses on branded generic formulations and contract development and manufacturing organisation (CDMO) products and services.

Its product portfolio covers therapeutic areas including cardiovascular, anti-diabetic, neuropsychiatry, respiratory health, antibiotics, vitamins, minerals and supplements, gastroenterology, analgesics and dermatology. These are available in various dosage forms such as tablets, injectables, capsules, liquid orals and ointments.

Sai Parenteral's clocked a net profit at Rs 7.76 crore with a revenue of Rs 89.43 crore for the six months ended on September 30, 2025. The company reported a bottomline of Rs 14.43 crore with a revenue of Rs 163.74 crore for the year 2024-25. At the current valuations, it commands a market capitalization over Rs 1,730 crore.

Arihant Capital Markets is the sole book running lead manager of Sai Parental's IPO and Bigshare Services is the registrar of the issue. Shares of the company shall be listed on both BSE and NSE on Thursday, April 02, 2025.