The initial public offering (IPO) of Sai Parenteral was subscribed 1.05 times on the third and final day of bidding on March 27.
The IPO received bids for 78,80,972 shares against 75,22,486 offered.
The Qualified Institutional Buyers (QIBs) booked the issue 1.71 times. The Non-Institutional Investors' (NIIs) category was subscribed 2.36 times. Retail investors booked their quota 0.12 times.
The price band for the IPO was set at Rs 372 to Rs 392 per share. The Sai Parenteral IPO was a book build issue of Rs 408.79 crore. It comprised a fresh issue of 73 lakh shares worth Rs 285 crore and an offer-for-sale (OFS) of 32 lakh shares amounting to Rs 123.79 crore.
Allotment of shares is expected to be finalised on March 30. The company will transfer shares to the demat accounts of successful bidders on April 1, and refunds for non-allottees will be done on the same day. The shares of the company are scheduled to list on the BSE and NSE on April 2.
Sai Parenterals operates as a diversified pharmaceutical formulations firm, with capabilities spanning research, development and manufacturing. Its business is structured around two primary segments: branded generic formulations and Contract Development and Manufacturing Organisation (CDMO) services.
The company will use proceeds from the IPO for capacity expansion and upgradation of manufacturing facilities, establishment of a research and development (R&D) centre, clearing debt, meeting working capital requirements, investing in its wholly owned subsidiary, and for general corporate purposes.
Investors who participated in the IPO can check the allotment status on the websites of BSE, NSE and the issue registrar, Bigshare Services.
Steps To Check Sai Parenteral IPO Allotment Status On BSE
Visit the BSE IPO allotment page here.
Choose the issue type as “Equity”.
Select “Sai Parenteral Ltd.” from the dropdown menu.
Enter your application number or PAN (Permanent Account Number).
Complete the Captcha for verification.
Click on the “Search” button to check your allotment status.
Steps To Check Sai Parenteral IPO Allotment Status On NSE
Visit the IPO allotment page on the NSE website here.
Select “Equity & SME IPO bid details”.
Pick the company symbol from the dropdown list.
Enter your PAN and Application Number.
Click “Submit” to check your share allotment status.
Steps to Check Sai Parenteral IPO Allotment Status On Bigshare Services
Visit the IPO allotment page on the Bigshare Services website here.
Select any one server out of the three options.
Select “Sai Parenteral Ltd.” from the dropdown list of company names.
Enter your PAN, Application/CAF Number, or DP/Client ID.
Fill in the captcha details.
Click on the Search button to verify your share allotment status.
Sai Parenteral IPO GMP Today
According to InvestorGain, the GMP for the Sai Parenteral IPO was nil on March. 30. It indicates a flat listing for the offer.
Note: GMP does not represent official data and is based on speculation.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
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