Sai Parenteral's IPO

About Sai Parenteral's IPO

The Sai Parenteral's IPO opens on Tuesday, Mar 24, 2026 and closes on Friday, Mar 27, 2026. The allotment of shares will take place on Monday, Mar 30, 2026. The credit of shares to the demat account will take place on Wednesday, April 1, 2026. The initiation of refunds will take place on Wednesday, April 1, 2026. The listing of shares will take place on Thursday, April 2, 2026.

The offer consists of both a fresh issue and an offer for sale component. The fresh issue will include up to [TBA] equity shares of face value of ₹5 each aggregating up to ₹ 285 crores. The offer for sale portion includes up to 3,157,880 equity shares of face value of ₹ 5 each aggregating up to ₹ [TBA] crores. The total number of shares and aggregate amount are yet to be finalised.

Sai Parenteral's IPO’s price band is set at TBA to TBA per share. The lot size for an application is TBA. The minimum amount of investment required by a retail investor is ₹TBA (TBA shares) (based on upper price). The minimum lot size investment for HNI is TBA.

Sai Parenteral’s is a diversified pharmaceutical formulations company with capabilities in research, development and manufacturing. They are in the business of (i) Branded Generic Formulations and (ii) Contract Development and Manufacturing Organisation (“CDMO”) products and services for the domestic and international markets.

Objectives of Sai Parenteral's IPO

The company proposes to utilise the IPO proceeds for:

• Capacity expansion and upgradation of manufacturing facilities
  
• Establishment of a new R&D centre
  
• Repayment / prepayment of certain outstanding borrowings
  
• Working capital requirements
  
• Investment in wholly owned subsidiary, Sai Parenterals (Singapore) in relation to the proposed acquisition of Noumed Pharmaceuticals (Australia)
  
• General corporate purposes
  

Industry Outlook

The global pharmaceutical sector is undergoing a profound transformation across its entire value chain, driven by a strong emphasis on product innovation, healthcare equity (healthcare for all), operational efficiency and enhanced engagement with healthcare providers and patients.

Despite facing inherent challenges within this transformative landscape, the pharmaceutical industry has demonstrated remarkable agility and delivered groundbreaking innovations, particularly highlighted during the COVID-19 pandemic, enjoying resilient growth.

The global pharmaceutical market is projected to grow to $290000 crores by 2033, with a CAGR of 5.9% from 2025 to 2033. The Indian pharmaceutical industry is the world’s third largest by volume and was estimated at $6200 crores in 2025. It is expected to grow at a CAGR of 11.2% to reach $14600 crores by 2033. The industry can be broadly classified into formulations and bulk drugs.

About Sai Parenteral's

Sai Parenteral's is a diversified pharmaceutical formulations company with capabilities in research, development and manufacturing. It’s in the business of branded generic formulations and contract development and manufacturing organisation (CDMO) products and services for the domestic and international markets.

The company’s portfolio includes formulation products across various therapeutic areas like cardiovascular, neuropsychiatry, anti-diabetic, respiratory health, antibiotics, gastroenterology, vitamins, minerals and supplements (VMS), analgesics, and dermatology with offerings across dosage forms such as injectables, tablets, capsules, liquid orals and ointments.

Strengths of Sai Parenteral's

• Diversified generic formulations player with an established track record
  
• Strategically located and accredited manufacturing facilities
  
• Strong focus on CDMO business
  
• Well-established distribution network in India and overseas
  
• Track record of value-accretive acquisitions
  
• Experienced promoters and senior management with extensive domain knowledge
  

Risks of Sai Parenteral's IPO

• Exposed to risks originating from slowdown or shutdown, economic, regulatory, political and other changes in Hyderabad, Telangana and Ongole.

• Reduction in the demand from injectables may adversely affect business.

• Subject to regulatory action which may damage reputation.

• Reduction of supplies or discontinuation of supplies from top suppliers.

• Failure to develop and commercialise new products in a timely manner.

• Loss of one or more customers or the deterioration of their financial condition or prospects.

• International business exposes the company to complex management, legal, tax and economic risks.

• They are subject to extensive regulation.

Anchor Investor Bidding Date - Monday, March 23, 2026*

*The company may, in consultation with the BRLM, consider participation by Anchor Investors in accordance with the SEBI ICDR Regulations. The Anchor Investor Bidding Date shall be one Working Day prior to the Bid/Offer Opening Date.

IPO Registrar and Book Running Lead Manager

• IPO Registrar: Bigshare Services
• Book Running Lead Managers: Arihant Capital Markets

Sai Parenteral's Business Model

The company earns its revenue as a pharmaceutical formulations company with capabilities in research, development and manufacturing.

Sai Parenteral's Growth Trajectory

Sai Parenteral's Total Income for FY25 was ₹163.743 crores, whereas in FY24 and FY23 it was ₹155.180 crores and ₹97.028 crores, respectively.

The Profit After Tax for FY25 was ₹14.454 crores, whereas in FY24 and FY23 it was ₹8.415 crores and ₹4.376 crores, respectively.

Their EBITDA for FY25 was ₹39.435 crores, whereas in FY24 and FY23 it was ₹31.700 crores and ₹17.641 crores, respectively.

Sai Parenteral's Market Position

Sai Parenteral’s owns and operates 5 manufacturing facilities in India, out of which 4 manufacturing facilities are based in Hyderabad, Telangana.

As of December 31, 2025, they supplied branded generic formulation products to 10 countries through a network of 7 distributors. In 2025, Australia, which was their largest export market accounted for 63.00% of their export revenue.

As of 31 March 2025, the company’s Total Income, Profit After Tax, and EBITDA were ₹163.743 crores, ₹14.454 crores, and ₹39.435 crores, respectively.

How to apply for Sai Parenteral's IPO?

● Step 1: Log in to your Kotak Neo Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.

● Step 2: Specify IPO details - Enter the number of lots and the price you wish to apply for.

● Step 3: Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.

● Step 4: Mandate Notification - Your UPI app will receive a mandate notification to block funds.

● Step 5: Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.