-- / --
Sai Parenteral's IPO Details
RHP/DRHPIssue Date
--
Investment/lot
--
Price Range
--
Lot Size
--
IPO Size
N/A
About Sai Parenteral's IPO
The IPO of Sai Parenteral's comprises a fresh issue and an offer for sale. The fresh issue aggregates up to ₹285 crores and the offer for sale is up to 3,500,000 equity shares. The total issue size is pegged at TBA. It’s a 100% book-built issue. The price band is TBA. The IPO opens on TBA and closes on TBA.
The listing date is on TBA and the allotment date is TBA. The credit of shares to the Demat account will take place on TBA, while the initiation of refund will take place on TBA.
Sai Parenteral's is a diversified pharmaceutical formulations company with capabilities in research, development and manufacturing. It’s in the business of:
- Branded generic formulations
- Contract development and manufacturing organisation (CDMO) products and services for the domestic and international markets
Objectives of Sai Parenteral's IPO
The company proposes to utilise the IPO proceeds for:
- Capacity expansion and upgradation of manufacturing facilities
- Establishment of a new R&D centre
- Repayment / prepayment of certain outstanding borrowings
- Working capital requirements
- Investment in wholly owned subsidiary, Sai Parenterals
(Singapore) in relation to the proposed acquisition of Noumed Pharmaceuticals (Australia)
- General corporate purposes
Sai Parenteral's IPO Valuation
| Detail | Information |
|---|---|
Upper Price Band | TBA |
Fresh Issue | Up to ₹285 crores |
Offer for Sale | Up to 3,500,000 equity shares |
EPS in ₹ for FY 25 | 5.43 |
Sai Parenteral's IPO Lot Size
| Application | Lots | Shares | Amount in INR |
|---|---|---|---|
Individual Investors (Retail) (Min) | TBA | TBA | TBA |
Individual Investors (Retail) (Max) | TBA | TBA | TBA |
HNI (Min) | TBA | TBA | TBA |
Sai Parenteral's IPO Offer and Subscription Details
| Investor Category | Shares Offered |
|---|---|
QIBs | Not more than 50% of the net offer |
Non-institutional Bidders | Not less than 15% of the offer |
Retail Individual Bidders | Not less than 35% of the offer |
Industry Outlook
The global pharmaceutical sector is undergoing a profound transformation across its entire value chain, driven by a strong emphasis on product innovation, healthcare equity (healthcare for all), operational efficiency and enhanced engagement with healthcare providers and patients.
Despite facing inherent challenges within this transformative landscape, the pharmaceutical industry has demonstrated remarkable agility and delivered groundbreaking innovations, particularly highlighted during the COVID-19 pandemic, enjoying resilient growth.
The global pharmaceutical market is estimated at $1.8 trillion in 2025 and is projected to grow to $2.9 trillion by 2033, with a CAGR of 5.9% from 2025 to 2033. The Indian pharmaceutical industry is the world’s third largest by volume and was estimated at $62 billion in 2025. It is expected to grow at a CAGR of 11.2% to reach $146 billion by 2033.
Company Information
Sai Parenteral's is a diversified pharmaceutical formulations company with capabilities in research, development and manufacturing. It’s in the business of branded generic formulations and contract development and manufacturing organisation (CDMO) products and services for the domestic and international markets.
The company’s portfolio includes formulation products across various therapeutic areas like cardiovascular, neuropsychiatry, anti-diabetic, respiratory health, antibiotics, gastroenterology, vitamins, minerals and supplements (VMS), analgesics, and dermatology with offerings across dosage forms such as injectables, tablets, capsules, liquid orals and ointments.
Strengths of Sai Parenteral's
- Diversified generic formulations player with an established track record
- Strategically located and accredited manufacturing facilities
- Strong focus on CDMO business
- Well-established distribution network in India and overseas
- Track record of value-accretive acquisitions
- Experienced promoters and senior management with extensive domain knowledge
Risks of Sai Parenteral's IPO
- Exposed to risks originating from slowdown or shutdown, economic, regulatory, political and other changes in Hyderabad, Telangana and Ongole
- Reduction in the demand from injectables may adversely affect business
- Subject to regulatory action which may damage reputation
- Reduction of supplies or discontinuation of supplies from top suppliers could have a material adverse effect on business
- Failure to develop and commercialise new products in a timely manner could adversely affect business
- Loss of one or more customers or the deterioration of their financial condition or prospects could adversely affect business
- International business exposes the company to complex management, legal, tax and economic risks
- The Indian pharmaceutical market is subject to extensive regulation and failure to comply with the existing and future regulatory requirements in the pharmaceutical market could adversely affect business
All Financial Information about Sai Parenteral's IPO (in ₹ crores)
Comparison with peers
| Company Name | Revenue from Operations (in ₹ crores) | EPS in ₹ | NAV Per Equity Share (in ₹) | Return on Net Worth (in %) |
|---|---|---|---|---|
Sai Parenteral's | 163.106 | 5.43 | 35.98 | 15.09 |
Innova Captab | 1243.676 | 22.41 | 167.66 | 13.37 |
Senors Pharmaceuticals | 398.250 | 16.12 | 176.37 | 7.18 |
Gland Pharma | 5616.504 | 42.40 | 555.41 | 7.63 |
Anchor Investor Bidding Date
TBA
IPO Registrar and Book Running Lead Manager
- IPO Registrar: Bigshare Services
- Book Running Lead Managers: Arihant Capital Markets
Business Model
The portfolio of Sai Parenteral’s includes formulation products across various therapeutic areas like cardiovascular, neuropsychiatry, anti-diabetic, respiratory health, antibiotics, gastroenterology, vitamins, minerals and supplements (VMS), analgesics, and dermatology with offerings across dosage forms such as injectables, tablets, capsules, liquid orals and ointments.
In the injectables segment, it has capabilities in sterile manufacturing for critical care and penicillin-based therapies, offering delivery systems that include dry powder injections, pre-filled syringes, ampoules, and vials.
It manufactures and sells branded generic formulations to a diverse customer base, including central and state government agencies, pharmaceutical companies, public and private hospitals and super stockists in the domestic market.
Company Growth Trajectory
The revenue from operations of Sai Parenteral's grew from ₹96.796 crores in FY 23 to ₹163.106 crores in FY 25. Its PAT margin grew from 4.50% in FY 23 to 8.90% in FY 25, while EBITDA margin grew from 18.22% in FY 23 to 24.18% in FY 25. Strong focus on CDMO business coupled with strategically located and accredited manufacturing facilities has helped the company grow over the years.
Market Position
Sai Parenteral’s owns and operates 5 manufacturing facilities in India, out of which 4 manufacturing facilities are based in Hyderabad, Telangana. The company started its export business in fiscal 2023 after acquiring two internationally accredited manufacturing units in Hyderabad, Telangana. It exports its products to the regulated and semi-regulated markets of Australia, New Zealand, Southeast Asia, Middle East and Africa through distributors.
Sai Parenteral's Profit and Loss (in ₹ crores)
| Parameter | FY25 | FY24 | FY23 |
|---|---|---|---|
Total Income | 163.743 | 155.180 | 97.028 |
Profit Before Tax | 19.909 | 12.555 | 7.250 |
Profit After Tax | 14.454 | 8.415 | 4.376 |
EBITDA | 39.435 | 31.700 | 17.641 |
EPS in ₹ | 5.43 | 10.54 | 6.16 |
Sai Parenteral's Balance Sheet (in ₹ crores)
| Parameter | FY25 | FY24 | FY23 |
|---|---|---|---|
Profit Before Tax | 19.909 | 12.555 | 7.250 |
Net Cash Inflow from / (outflow) Operating Activities | 33.149 | (29.764) | (12.799) |
Net Cash Inflow from/ (outflow) from Investing Activities | 0.435 | (46.322) | (19.029) |
Net Cash Inflow from/ (outflow) From Financing activities | (35.881) | 78.570 | 23.978 |
Cash and Cash Equivalents at the End of the Year | 2.086 | 4.384 | 1.905 |
How to Check Allotment Status of Sai Parenteral's IPO?
1. Visit the Registrar’s Website
- Visit the official website of Bigshare Services
- Choose IPO Allotment Status from ‘Services’
- Click on any one of the servers
- Choose ‘Company Name’ from dropdown
- Enter either your application number, CAF number or beneficiary ID
2. Check on the National Stock Exchange Website
The National Stock Exchange (NSE) website has an IPO bid verification module. You can use it to check the allotment status of Sai Parenteral's IPO. Go to the NSE website and find the 'Invest' tab. Click on 'Verify IPO Bids' under 'Resources & Tools'.
On the NSE IPO bid verification page, enter:
- Company name from dropdown
- Application number
- PAN
Then click 'Submit' to know the allotment status.
3. Check on the BSE Website
The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to the BSE website and find the 'Investors' tab. Under 'Investors', click on 'IPO'. This will take you to the IPO allotment status page. On the BSE IPO page, follow these steps:
- Select 'Equity' from the dropdown menu
- Choose 'Sai Parenteral's' in the next dropdown
- Enter your application number
- Enter your PAN
- Click 'Search’ to know allotment status
How to Apply for Sai Parenteral's IPO?
To apply for this IPO:
- Log in to your Kotak Securities Demat account: Log in to your Demat account to access IPO investments. Next, select the current IPO section.
- Specify IPO details: Enter the number of lots and the price you wish to apply for.
- Enter UPI ID: After entering your UPI ID, click submit. This will place your bid with the exchange.
- Mandate Notification: Your UPI app will receive a mandate notification to block funds.
- Approve Request: Your funds will be blocked once you approve the mandate request on your UPI.
This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Please read the SEBI-prescribed Combined Risk Disclosure Document before investing. Brokerage will not exceed SEBI’s prescribed limit.
Sai Parenteral's IPO FAQs
Where can I read more about Sai Parenteral's business?
You can read more about Sai Parenteral's and its IPO from the company’s red herring prospectus (RHP) here.
What is Sai Parenteral's IPO?
Sai Parenteral's IPO consists of a fresh issue aggregating up ₹285 crores and an offer for sale aggregating up to 3,500,000 equity shares.
When is the IPO of Sai Parenteral's coming?
The exact dates of the IPO are yet to be announced.
Who is the Chairman of Sai Parenteral's?
Anil Kumar Karusala is the Chairman and MD of Sai Parenteral's.
What is the lot size of shares in the Sai Parenteral's IPO?
The lot size of shares in this IPO is yet to be announced.
From where can I read more about Sai Parenteral's and its IPO?
You can read more about Sai Parenteral's and its IPO from the company’s draft red herring prospectus here.