- Price band
- To be announcedNot in this filing
- Issue size
- To be announcedAmount set with price
- Face value
- ₹5per equity share
- Lot size
- To be announcedMin. investment shown once set
- Anchor biddingMon, 2026
- OpensTue, 2026
- ClosesFri, 2026
- AllotmentMon, 2026
- ListingThu, 2026
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue and offer for sale
- Fresh issue
- —
- Offer for sale
- 31,57,880 shares
- Total issue
- —
- Face value
- ₹5
- Listing at
- NSE, BSE
- RHP date
- 16 Mar 2026
Source: Red Herring Prospectus dated 16 Mar 2026Updated
Reservation
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | — | — | 35% |
| Non-institutional investors (NII) | — | — | 15% |
| Qualified institutional buyers (QIB) | — | — | 50% |
| Anchor investors | — | — | — |
Source: Red Herring Prospectus dated 16 Mar 2026Updated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
FY 2024-25, pre-issue- EPS (basic)
- ₹5.43
- EPS (diluted)
- ₹5.43
- RoNW
- 15.09%
- NAV per share (Sep 30, 2025)
- ₹56.73
- ROCE
- 28.92%
P/E and market cap are calculated once the price band is announced.
Source: Red Herring Prospectus dated 16 Mar 2026Updated
Financials
Consolidated, restated · ₹ crore| Period ended | 30 Sep 20256 months | 31 Mar 2025FY 2024-25 | 31 Mar 2024FY 2023-24 | 31 Mar 2023FY 2022-23 |
|---|---|---|---|---|
| Revenue from operations | 86.92 | 163.11 | 153.76 | 96.80 |
| Total income | 89.43 | 163.74 | 155.18 | 97.03 |
| EBITDA | 16.24 | 39.44 | 31.70 | 17.64 |
| Profit after tax | 7.76 | 14.45 | 8.42 | 4.38 |
| Net worth | 209.37 | 95.78 | 76.40 | 31.49 |
| Reserves and surplus | 188.84 | 80.36 | 61.30 | 24.34 |
| Total assets | 376.24 | 272.39 | 268.10 | 133.96 |
| Total borrowing | 76.07 | 93.95 | 118.79 | 68.55 |
FY 2024-25 vs FY 2023-24: revenue +6.1%, profit after tax +71.8%. Periods shorter than 12 months are shown as reported and are not annualised.
Source: Red Herring Prospectus dated 16 Mar 2026Updated
About the company
The company makes branded generic pharmaceutical formulations and provides contract development and manufacturing services. Its portfolio spans injectables, tablets, capsules, liquid orals and ointments across several therapeutic areas. It operates five manufacturing facilities in Telangana and Andhra Pradesh and is expanding into regulated markets.
- Incorporated
- 2001
- Industry
- Pharmaceuticals
- CIN
- U24231TG2001PLC036043
- Website
- saiparenterals.com
Source: Red Herring Prospectus dated 16 Mar 2026Updated
Promoters and shareholders
| Name | Type | Before issue | After issue | Shares offered |
|---|---|---|---|---|
| Vijitha Gorrepati | Promoter | 34.61% | — | — |
| Anil Kumar Karusala | Promoter | 12.35% | — | — |
| Karusala Aruna | Promoter | 8.85% | — | — |
| Kunal Kakumanu | Promoter group | 5.42% | — | — |
| Vikasa India EIF I Fund | Selling shareholder | 1.17% | — | 4,30,000 |
| Bhanwar Lal Chandak | Selling shareholder | 0.60% | — | 2,22,000 |
| Tilokchand Punamchand Ostwal | Selling shareholder | 0.60% | — | 2,22,222 |
| Devendra Chawla | Selling shareholder | 0.60% | — | 2,22,218 |
| Ashish Maheshwari | Selling shareholder | 0.60% | — | 2,22,000 |
| Sreelekha Ganta | Selling shareholder | 0.54% | — | 2,00,000 |
| Padma Guntupalli | Selling shareholder | 0.54% | — | 2,00,000 |
| Vijay Gondi | Selling shareholder | 0.49% | — | 1,80,000 |
| Bhautik Mukund Shah | Selling shareholder | 0.38% | — | 1,40,000 |
| Nilesh Pravinchandra Doshi | Selling shareholder | 0.38% | — | 1,40,000 |
Source: Red Herring Prospectus dated 16 Mar 2026Updated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Capacity expansion and upgradation of manufacturing facilities | 110.80 |
| Establishment of a new R&D centre | 18.02 |
| Repayment/prepayment of certain outstanding borrowings | 14.30 |
| Working capital requirements | 33.00 |
| Repayment of bridge and term loan for investment in Singapore subsidiary for Noumed acquisition | 35.64 |
| General corporate purposes | Set with price |
Source: Red Herring Prospectus dated 16 Mar 2026Updated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| Sai Life Sciences Limited | ₹8.83 | 107.70× | 10.81% | ₹102.12 |
| Innova Captab Limited | ₹22.41 | 32.45× | 22.35% | ₹167.66 |
| Senores Pharmaceuticals Limited | ₹16.12 | 64.30× | 9.46% | ₹176.37 |
| Gland Pharma Limited | ₹42.4 | 44.71× | 5.56% | ₹555.41 |
| Sai Parenteral's LimitedIssuer | ₹5.43 | — | 15.09% | ₹35.98 |
Source: Red Herring Prospectus dated 16 Mar 2026Updated
Strengths and risks
Our summary of what the offer document statesStrengths
- Diversified mix of branded generic formulations and CDMO services.
- Multiple manufacturing units with several regulatory accreditations including WHO-GMP and TGA-Australia.
- Track record of acquisitions expanding manufacturing and overseas presence.
- Experienced promoter and senior management team.
Risks
- Manufacturing facilities are concentrated in Telangana and Andhra Pradesh, exposing the company to regional disruptions.
- Heavy dependence on injectables in past years, though its share has fallen.
- Ongoing regulatory inspections, a tender debarment and a CDSCO recall direction create compliance risk.
- A subsidiary was directed to stop manufacturing in 2024, with the order currently held in abeyance.
- Significant pending litigation and reliance on working capital funding.
Source: Red Herring Prospectus dated 16 Mar 2026Updated
Contacts
Source: Red Herring Prospectus dated 16 Mar 2026Updated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Refunds
- Demat credit
- Listing
Source: Red Herring Prospectus dated 16 Mar 2026Updated
After listing
Listing price, day-one high and low, and the change from the issue price (set at allotment) appear here after the shares list on NSE and BSE.
Frequently asked questions
When does the Sai Parenteral's IPO open and close?
According to the Red Herring Prospectus, the issue opens on Tuesday, 24 March 2026 and closes on Friday, 27 March 2026. These dates are tentative.
What is the Sai Parenteral's IPO price band?
The Red Herring Prospectus does not include a price band. The company announces it by advertisement before the issue opens, and this page is updated when it is filed.
Where will Sai Parenteral's shares list?
On NSE and BSE. The tentative listing date is Thursday, 2 April 2026.
Who is the registrar of the issue?
Bigshare Services Private Limited (SEBI registration INR000001385). Allotment status is checked on the registrar's website.
How do I check the Sai Parenteral's IPO allotment status?
The basis of allotment is expected to be finalised on Monday, 30 March 2026. After that, search by PAN, application number or DP/client ID on the registrar's website (Bigshare Services Private Limited), the NSE website or the BSE website. Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹110.8 Cr for capacity expansion and upgradation of manufacturing facilities, ₹18.02 Cr for establishment of a new R&D centre, ₹14.3 Cr for repayment/prepayment of certain outstanding borrowings, ₹33 Cr for working capital requirements, ₹35.64 Cr for repayment of bridge and term loan for investment in Singapore subsidiary for Noumed acquisition, and the rest for the other stated purposes.
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