The issue opened for bidding on 24 March 2026 and it will close on 27 March 2026. The price band of the IPO is fixed between Rs 372 and 392 per share. An investor can bid for a minimum of 38 equity shares and in multiples thereof.

The IPO comprises fresh issue of equity shares worth up to Rs 285 crore and an offer for sale of 31,57,880 equity shares aggregating up to Rs 123.79 crore by existing shareholders.

The objectives of the fresh issue include Rs 110.79 crore for capacity expansion and upgradation of manufacturing facilities, Rs 18.02 crore for the establishment of a new R&D centre, Rs 14.3 crore for repayment or prepayment of certain outstanding borrowings, Rs 33 crore for working capital requirements, Rs 35.64 crore for repayment of bridge and term loans availed for investment in a wholly-owned subsidiary, and the remaining amount for general corporate purposes.

The promoters and promoter group hold an aggregate of 2,26,00,001 equity shares, aggregating to 61.23% of the pre-offer issued and paid-up equity share capital. Their post IPO shareholding is expected to be around 51.16%.

Ahead of the IPO of Sai Parenteral's on 23 March 2026, the company raised Rs 1.22 crore from anchor investors by allotting 31.28 lakh shares at Rs 392 each to 5 anchor investors.

Sai Parenteral's is a diversified pharmaceutical formulations company with expertise in research, development, and manufacturing. The company operates across two segments: (1) Branded Generic Formulations and (2) Contract Development and Manufacturing Organisation (CDMO) products and services for domestic and international markets.

The portfolio spans multiple therapeutic areas, including cardiovascular, neuropsychiatry, anti-diabetic, respiratory, antibiotics, gastroenterology, vitamins, minerals and supplements (VMS), analgesics, and dermatology. Products are offered across dosage forms such as injectables, tablets, capsules, liquid orals, and ointments.

In H1 FY26, the domestic market contributed 76.21% of revenue while exports contributed 23.79%, with the majority coming from the Philippines, which accounted for 19.93% of total revenue.

In H1 FY26, tablets contributed 59.53% to revenue, followed by injectables at 25.54%, liquid orals at 12.65%, capsules at 1.97%, and ointments at 0.3%.

During the six months ended 30 September 2025, the firm recorded a consolidated net profit of Rs 7.76 crore and sales of Rs 86.92 crore.

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