Sai Parenteral's Ltd, a pharmaceutical company, has announced its IPO price band at Rs 372-392 per share. The IPO includes a fresh issue of Rs 285 crore and nearly 32 lakh equity shares. Proceeds aim to expand its formulations business and manufacturing capabilities globally.

Sai Parenteral's Ltd Sets IPO Price Band at Rs 372-392

Sai Parenteral's Ltd, known for its diverse pharmaceutical formulations, has revealed the price band for its upcoming Initial Public Offering (IPO), ranging from Rs 372 to Rs 392 per share. This step comes after the company filed its Red Herring Prospectus (RHP) with the Securities and Exchange Board of India (SEBI) and stock exchanges.

The IPO consists of a fresh issue worth up to Rs 285 crore, coupled with an offer-for-sale of nearly 32 lakh equity shares. Sai Parenteral's Ltd aims to list its equity shares on the National Stock Exchange and Bombay Stock Exchange, marking a significant phase in the company's growth trajectory.

According to Anil KK, Chairman & Managing Director, the IPO signifies a crucial milestone for the company, offering an opportunity to further strategic goals. Funds raised will bolster the firm's global formulations business and strengthen its Contract Development and Manufacturing Organisation capacities in both injectable and oral solid dosage products.

(With inputs from agencies.)