Sai Parenterals IPO

Sai Parenterals IPO

SAIPARENT

₹14,896 / 38 shares

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Sai Parenterals IPO Details

RHP/DRHP

Issue Date

24 Mar - 27 Mar'26

Price Range

₹372 - ₹392

Lot Size

38

IPO Size

₹294.88 Cr

Sai Parenterals IPO Listing Details

Listing On

2 Apr'26

Issue Price

₹392

Listed Price

₹ 405

Retail Gain/Listing Gain

▲3.32%

Schedule of Sai Parenterals IPO

Start date

24/03/2026

End date

27/03/2026

Allotment of bids

30/03/2026

Refund Initiation

01/04/2026

Listing on exchange

02/04/2026

Sai Parenterals IPO Subscription Status Live

(Last updated on 27 Mar 2026 04:45 PM)

Sai Parenterals IPO Subscription Rate

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 72,70,408 shares(aggregating up to ₹285 crores). The offer for sale portion includes 31,57,880 shares of ₹5 (aggregating up to ₹124 crores). The total number of shares and aggregate amount are 1,04,28,288 shares (aggregating up to ₹409 crores).

Sai Parenteral's IPO’s price band is set at ₹372 to ₹392 per share. The lot size for an application is 38. The minimum amount of investment required by a retail investor is ₹14,896 (38 shares) (based on upper price). The lot size investment required by sNIIs is 14 lots (532 shares), amounting to ₹2,08,544, and for bNII, it is 68 lots (2,584 shares), amounting to ₹10,12,928.

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

Sai Parenteral's IPO Valuation

Sai Parenteral's IPO Offer and Subscription Details

Sai Parenteral's IPO Lot Size

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.

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Comparison with peers

Source: All the financial information for listed industry peers mentioned above is on a consolidated basis (unless otherwise available only on standalone basis) and is sourced from the annual reports / annual results as available of the respective company for the fiscal 2025 submitted to stock exchanges.

Notes: i) Basic/diluted earnings per share refers to the basic/diluted earnings per share sourced from the financial statements of the respective peer group companies for the financial year ended. ii) Net asset value per share represents Net worth divided by total number of shares at the end of the year iii) Price/earnings ratio for the peer group has been computed based on the closing market price of equity shares on BSE/NSE as on February 03, 2026, divided by the diluted earnings per share for the fiscal 2025. iv) The industry EV/EBITDA ratio mentioned above is computed as the enterprise value of the peer companies, determined using the closing market price of their equity shares on NSE as of February 03, 2026 multiplied by the fully diluted number of equity shares outstanding and adjusted for net debt as of September 30, 2025, divided by the EBITDA for the financial year ended September 30, 2025. v) The industry P/S ratio mentioned above is computed based on the closing market price of equity shares on NSE as of February 03, 2026, divided by the revenue from operations per share for the financial year ended September 30, 2025. vi) Return on Net Worth is calculated as Profit for the period / year as a percentage of Net Worth.

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.

Sai Parenteral's Profit and Loss (in ₹ crores)

Sai Parenteral's Balance Sheet (in ₹ crores)

 Note: () denotes negative

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.

Sai Parenterals IPO FAQs

The Sai Parenterals IPO opens for subscription from 24-03-2026 to 27-03-2026, with a total issue size of ₹294.88 Cr. The IPO price band is ₹372 to ₹392 per share with a lot size of 38. The company aims to list the shares on BSE & NSE on 02-04-2026.

The Sai Parenterals IPO will open for subscription on 24-03-2026 and will close on 27-03-2026 for investors.

The minimum lot size for the Sai Parenterals IPO is 38 equity shares, requiring a minimum investment of ₹14896 for retail investors applying in the IPO.

The price band of the Sai Parenterals IPO has been fixed at ₹372 to ₹392 per equity share.

You can apply for the Sai Parenterals IPO online through the Kotak Neo Website or the Kotak Neo App using UPI or ASBA during the IPO subscription period.

Sai Parenterals IPO allotment will take place on 30-03-2026.

You can check the Sai Parenterals IPO allotment status online on the registrar’s website or on the NSE and BSE IPO allotment pages using your application number, PAN, or demat account details.

Sai Parenterals shares will list on the stock exchanges on 02-04-2026.

You can find detailed information about the Sai Parenterals IPO, including its business operations, financial performance, risk factors, and IPO objectives, in the Draft or Red Herring Prospectus (RHP).

Sai Parenteral's IPO consists of a fresh issue aggregating up ₹285 crores and an offer for sale aggregating up to 3,500,000 equity shares.

The exact dates of the IPO are yet to be announced.

Anil Kumar Karusala is the Chairman and MD of Sai Parenteral's.

The lot size of shares in this IPO is yet to be announced.

You can read more about Sai Parenteral's IPO and its business from the company’s red herring prospectus here: <Sai Parenteral's RHP>

This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Neo Research Team, nor is it a report published by the Kotak Neo Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Please read the SEBI-prescribed Combined Risk Disclosure Document before investing. Brokerage will not exceed SEBI’s prescribed limit.

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