Sai Parenterals Ltd.'s initial public offering entered its second session of bidding on Wednesday. The IPO is a combination of fresh issue of 0.73 crore shares aggregating to Rs 285 crore and offer for sale of 0.32 crore shares aggregating to Rs 124 crore. Investors can bid for shares in the range of Rs 372 to Rs 392.
The lot size is 38 equity shares, requiring a minimum investment of Rs 14,896. The total IPO size is Rs 409 crore based on the upper price band and the company will be valued at Rs 1,732 crore.
The subscription will close on March 27. The anchor round raised Rs
The allotment for the Sai Parental IPO will be finalised on March 30 and the shares will be credited to the demat account on April 1. The stock will list on the BSE and NSE on April 2.
Day Two Subscription Status
The Sai Parenteral's IPO was subscribed 6% as of 10:30 a.m. on March 25.
- Qualified Institutional Buyers: 2%
- Non Institutional Investors: 17%
- Retail Individual Investors: 3%
Latest GMP
The GMP for the Sai Parenteral IPO was nil on March 25, according to InvestorGain. It indicates a flat listing for the offer.
About Sai Parenteral
Sai Parenteral's 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.
Of the fresh issue raise, the company will utilise for Rs 111 crore for capacity expansion and upgradation of manufacturing facilities.
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