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Sai Parenteral's IPO
Price Band
₹372.0–392.0
Issue Size
₹408.79 Cr
Lot Size
38 shares
Min Investment
₹14,896
GMP
—
Issue Price
₹392.0
Sai Parenteral's IPO AI Summary
- Sai Parenteral's IPO is listed on BSE, NSE in the Pharmaceuticals sector.
- Price band: ₹372.0–₹392.0 per share, lot size 38 shares (min. investment ₹14,896).
- Subscription window: 24 Mar–27 Mar 2026, listing on 02 Apr 2026.
Sai Parenteral's Ltd. is a pharmaceutical company with a diverse product portfolio and recent expansion into international markets. The IPO aims to raise funds for capacity expansion, R&D, and other corporate purposes, with a focus on long-term growth.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Sai Parenteral's IPO Grey Market Premium (GMP) Today
GMP not available yet
Grey Market Premium is updated daily. Check back closer to the listing date.
About the Company
Incorporated in 2001, Sai Parenteral's Ltd. is a diversified pharmaceutical formulations company with expertise in research, development, and manufacturing. The company operates in two segments: Branded Generic Formulations and Contract Development and Manufacturing Organisation (CDMO) products and services for domestic and international markets. The product portfolio spans multiple therapeutic areas including cardiovascular, neuropsychiatry, anti-diabetic, respiratory health, antibiotics, gastroenterology, vitamins, minerals and supplements (VMS), analgesics, and dermatology. Offerings are across dosage forms such as injectables, tablets, capsules, liquid orals, and ointments. Sai Parenteral's serves a wide customer base comprising central and state government agencies, pharmaceutical companies, public and private hospitals, and super stockists in India. The company entered exports in FY 2023 after acquiring two internationally accredited facilities in Hyderabad, Telangana, and now supplies to regulated and semi-regulated markets in Australia, New Zealand, Southeast Asia, the Middle East, and Africa. The company owns and operates five manufacturing facilities in India. Four are located in Hyderabad, Telangana, comprising a GMP-compliant injectable unit, a WHO-GMP injectable unit, a TGA-Australia and PIC/S accredited solid oral dosage unit, and a WHO-GMP cephalosporin facility. Its wholly owned subsidiary, Revat Laboratories, operates a GMP-certified facility in Ongole, Andhra Pradesh. As of August 31, 2025, Sai Parenteral's Ltd. employed 277 full-time employees.
Company Financials (₹ Cr)
As of 2025-09-30
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 376.24 | 272.39 | 268.10 | 133.96 |
| Total Income | 89.43 | 163.74 | 155.18 | 97.03 |
| Profit After Tax | 7.76 | 14.43 | 8.42 | 4.38 |
| EBITDA | 16.24 | 39.44 | 31.70 | 17.64 |
| NET Worth | 209.37 | 95.78 | 76.40 | 31.49 |
| Reserves and Surplus | 188.84 | 80.36 | 61.30 | 24.34 |
| Total Borrowing | 76.07 | 93.95 | 118.79 | 68.55 |
Key Ratios
EPS
₹5.43
NAV
₹35.98
ROE
16.82%
ROCE
28.92%
RoNW
15.09%
P/B Value
10.89
P/E Ratio
72.19
Market Cap
₹1731.83 Cr
PAT Margin
8.88%
Promoters
Anil Kumar Karusala, Vijitha Gorrepati and Karusala Aruna
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Capacity expansion and upgradation of manufacturing facilities 110.80 2 Establishment of a new R&D Centre; 18.02 3 Repayment / prepayment of certain outstanding borrowings 14.30 4 Working capital requirements 33.00 5 Investment in wholly owned subsidiary, Sai Parenterals Pte Limited (Singapore), in relation to the proposed acquisition of Noumed Pharmaceuticals Pty Limited (Australia); and 35.64 6 General corporate purposes 44.74 7 Issue Expenses 40.84 Total 297.34
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total Income was ₹97.03 Cr in the year ending 31 Mar 2023, increasing to ₹155.18 Cr by 31 Mar 2024, and further rising to ₹163.74 Cr by 31 Mar 2025. However, the most recent figure of ₹89.43 Cr as of 30 Sep 2025 is from a 9-month period and is not directly comparable to the full fiscal years.
Profit Trend
Profit After Tax was ₹4.38 Cr in the year ending 31 Mar 2023, rising to ₹8.42 Cr by 31 Mar 2024, and further increasing to ₹14.43 Cr by 31 Mar 2025. The latest figure of ₹7.76 Cr as of 30 Sep 2025 is also from a 9-month period and is not directly comparable to the full fiscal years.
Grey Market Premium, Explained
The Grey Market Premium (GMP) refers to the unofficial trading of shares before they are listed on the stock exchange. It indicates the expected listing price of an IPO compared to its issue price. A positive GMP suggests high demand, while a negative GMP indicates low demand.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and market conditions. It's important to consider the company's fundamentals and growth prospects.
Who May Want to Wait
Risk-averse investors or those seeking immediate returns may want to approach IPOs with caution, as they can be subject to market fluctuations and may not provide quick gains.
IPO Timeline, Explained
The IPO opens for subscription on 24 March 2026 and closes on 27 March 2026. Allotment of shares is expected to be finalized by 30 March 2026, with the listing date set for 2 April 2026.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make when selling shares on the listing day. However, these gains are not guaranteed and can be influenced by market conditions, investor sentiment, and overall demand for the stock.
This evaluation is generated from Sai Parenteral's's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is the price band of Sai Parenteral's IPO?
The price band of Sai Parenteral's IPO is ₹372.0–₹392.0 per share.
When does Sai Parenteral's IPO open and close?
Sai Parenteral's IPO opens on 24 March 2026 and closes on 27 March 2026.
When does Sai Parenteral's IPO list on the stock exchange?
Sai Parenteral's IPO listed on 02 April 2026 at ₹392.0.
What is the lot size for Sai Parenteral's IPO?
The lot size for Sai Parenteral's IPO is 38 shares, requiring a minimum investment of ₹14,896.
What is the price band for the IPO?
The price band for the IPO is ₹372.0 to ₹392.0.
What is the minimum investment required?
The minimum investment required is ₹14,896.0.
What is the lot size for the IPO?
The lot size for the IPO is 38 shares.
When is the listing date for the IPO?
The listing date for the IPO is 2 April 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of an IPO compared to its issue price.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
24 Mar 2026
Close
27 Mar 2026
Allotment
30 Mar 2026
Listing
02 Apr 2026
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