The IPO of pharma company Sai Parenterals has opened for investors today, March 24.
The company aims to raise ₹409 crore through this issue. If you are planning to invest, it is important to understand its business model and financial position.
Strong Interest from Anchor Investors
Even before the IPO opened, the company received strong support from large institutional investors. It raised ₹122 crore from anchor investors at a price of ₹392 per share.
Major investors in this round include Morgan Stanley (Asia), Kotak Mahindra Life Insurance, and Quant Mutual Fund.
Key IPO Details
Opening Date: March 24
Closing Date: March 27
Price Band: ₹372 to ₹392 per share
Issue Type: Combination of Fresh Issue (₹285 crore) and Offer for Sale (OFS)
Lot Size: Minimum 38 shares
Minimum Investment: ₹14,896
Allotment Date: March 30
Listing Date: April 2
Company Business Overview
Sai Parenterals is a diversified pharmaceutical formulations company. Its business is mainly divided into two segments:
Branded generic formulations
CDMO (Contract Development and Manufacturing Organization) services
The company develops medicines for both domestic and international markets. It also provides research and manufacturing services to other pharma companies.
Its product range includes injectables, tablets, capsules, and ointments, covering areas like cardiovascular, anti-diabetic, antibiotics, and dermatology.
Use of IPO Funds
The company plans to use the IPO proceeds for expansion. Its goals include:
Expanding its global presence
Strengthening its formulations business
Increasing manufacturing capacity in injectables and oral solid dosage (OSD)
Growing its presence in regulated markets like Australia and New Zealand
Financial Performance
Sai Parenterals has shown strong growth in recent years:
Revenue increased from ₹967 million in FY 2023 to ₹1,163 million in FY 2025
Net profit rose from ₹43.7 million in FY 2023 to ₹144 million in FY 2025
For the six months ending September 2025:
Revenue: ₹869 million
Profit: ₹77 million
