{"id":6489,"date":"2026-03-24T06:47:26","date_gmt":"2026-03-24T06:47:26","guid":{"rendered":"https:\/\/www.paytmmoney.com\/blog\/?p=6489"},"modified":"2026-03-24T06:47:26","modified_gmt":"2026-03-24T06:47:26","slug":"sai-parenterals-ipo-review-2026","status":"publish","type":"post","link":"https:\/\/www.paytmmoney.com\/blog\/sai-parenterals-ipo-review-2026\/","title":{"rendered":"Sai Parenteral\u2019s IPO Review: Key Details, Company Overview, Industry Context &#038; Financials"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Sai Parenteral\u2019s IPO is a book-built public issue aggregating to \u20b9408.79 crore. The IPO comprises a fresh issue of 0.73 crore equity shares amounting to \u20b9285.00 crore and an Offer for Sale (OFS) of 0.32 crore shares aggregating to \u20b9123.79 crore.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The IPO will open for subscription on March 24, 2026, and close on March 27, 2026. The allotment is expected to be finalised on March 30, 2026. The shares are proposed to be listed on BSE and NSE on April 2, 2026.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The price band has been fixed at \u20b9372 to \u20b9392 per share. Investors must apply in a minimum lot size of 38 shares. At the upper price band, the minimum investment required for retail investors is \u20b914,896.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For Non-Institutional Investors (NIIs):<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">sNII: Minimum 14 lots (532 shares) \u2013 \u20b92,08,544<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">bNII: Minimum 68 lots (2,584 shares) \u2013 \u20b910,12,928<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Arihant Capital Markets Ltd. is the Book Running Lead Manager, and Bigshare Services Pvt. Ltd. is the registrar to the issue.<\/span><\/p>\n<p><em><span style=\"font-weight: 400; font-size: 8pt;\">(<strong>Source: <\/strong><a href=\"https:\/\/www.sebi.gov.in\/filings\/public-issues\/mar-2026\/sai-parenteral-s-limited-rhp_100427.html\">RHP<\/a>)<\/span><\/em><\/p>\n<h2><strong>Company Overview<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Incorporated in 2001, Sai Parenteral\u2019s Ltd. is a pharmaceutical formulations company engaged in research, development, and manufacturing.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The company operates through two key segments:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">Branded Generic Formulations<\/span><\/li>\n<li><span style=\"font-weight: 400;\">CDMO (Contract Development and Manufacturing Organisation)<\/span><\/li>\n<\/ul>\n<div class=\"wp-block-table\" style=\"width: 100%; border: 1px solid #000000; margin-bottom: 20px;\">\n<table style=\"width: 100%; border-collapse: collapse; font-family: Arial, sans-serif; font-size: 15px; color: #000000; background-color: #ffffff;\">\n<thead>\n<tr style=\"border-bottom: 2px solid #000000;\">\n<th style=\"padding: 12px; border: 1px solid #000000; text-align: left; font-weight: bold; background-color: #ffffff; width: 35%;\">Category<\/th>\n<th style=\"padding: 12px; border: 1px solid #000000; text-align: left; font-weight: bold; background-color: #ffffff;\">Details<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"padding: 10px; border: 1px solid #000000; font-weight: bold;\">Therapeutic Coverage<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000;\">Cardiovascular \u2022 Neuropsychiatry \u2022 Anti-diabetic \u2022 Respiratory \u2022 Antibiotics \u2022 Gastroenterology \u2022 VMS \u2022 Analgesics \u2022 Dermatology<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px; border: 1px solid #000000; font-weight: bold;\">Dosage Forms<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000;\">Injectables \u2022 Tablets \u2022 Capsules \u2022 Liquid Orals \u2022 Ointments<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px; border: 1px solid #000000; font-weight: bold;\">Export Markets<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000;\">Australia \u2022 New Zealand \u2022 Southeast Asia \u2022 Middle East \u2022 Africa<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px; border: 1px solid #000000; font-weight: bold;\">Export Entry<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000;\">Entered exports in FY23 post acquisition of internationally accredited facilities<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px; border: 1px solid #000000; font-weight: bold;\">Manufacturing Facilities<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000;\">5 Units total: 4 in Hyderabad (GMP, WHO-GMP, TGA-Australia &amp; PIC\/S accredited) and 1 in Ongole (Revat Laboratories)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px; border: 1px solid #000000; font-weight: bold;\">Employee Strength<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000;\">298 full-time employees (as of Dec 31, 2025)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<h2><strong>Industry Context<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">India\u2019s pharmaceutical industry continues to expand, supported by:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Rising domestic healthcare expenditure<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Growing penetration of branded generics<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Strong demand from regulated export markets<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Increasing outsourcing to CDMO players<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Government initiatives such as PLI schemes<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">However, the sector faces challenges including:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Pricing controls under DPCO<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Regulatory compliance requirements<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Currency volatility in exports<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Competitive intensity in generics<\/span><\/li>\n<\/ul>\n<p><em><span style=\"font-weight: 400; font-size: 8pt;\">(<strong>Source: <\/strong><a href=\"https:\/\/www.sebi.gov.in\/filings\/public-issues\/mar-2026\/sai-parenteral-s-limited-rhp_100427.html\">RHP<\/a>)<\/span><\/em><\/p>\n<h2><strong>Business Strengths<\/strong><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Diversified generic and CDMO portfolio<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Strategically located and accredited facilities<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Strong distribution network in India and overseas<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Track record of value-accretive acquisitions<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Experienced promoters and management team<\/span><\/li>\n<\/ul>\n<p><em><span style=\"font-weight: 400; font-size: 8pt;\">(<strong>Source: <\/strong><a href=\"https:\/\/www.sebi.gov.in\/filings\/public-issues\/mar-2026\/sai-parenteral-s-limited-rhp_100427.html\">RHP<\/a>)<\/span><\/em><\/p>\n<h2><strong>Financial Performance<\/strong><\/h2>\n<h3><strong>Sai Parenteral\u2019s Ltd \u2013 Financials (\u20b9 in crore)<\/strong><\/h3>\n<div class=\"wp-block-table\" style=\"display: block; width: 100%; overflow-x: auto; -webkit-overflow-scrolling: touch; border: 1px solid #000000; margin-bottom: 5px;\">\n<table style=\"width: 100%; border-collapse: collapse; min-width: 800px; font-family: Arial, sans-serif; font-size: 14px; color: #000000; background-color: #ffffff;\">\n<thead>\n<tr>\n<th style=\"padding: 12px; border: 1px solid #000000; text-align: left; font-weight: bold; background-color: #ffffff; position: sticky; left: 0; z-index: 2; border-right: 2px solid #000000;\">Particulars<\/th>\n<th style=\"padding: 12px; border: 1px solid #000000; text-align: center; font-weight: bold;\">30 Sep 2025<\/th>\n<th style=\"padding: 12px; border: 1px solid #000000; text-align: center; font-weight: bold;\">31 Mar 2025<\/th>\n<th style=\"padding: 12px; border: 1px solid #000000; text-align: center; font-weight: bold;\">31 Mar 2024<\/th>\n<th style=\"padding: 12px; border: 1px solid #000000; text-align: center; font-weight: bold;\">31 Mar 2023<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"padding: 10px; border: 1px solid #000000; font-weight: bold; background-color: #ffffff; position: sticky; left: 0; z-index: 1; border-right: 2px solid #000000;\">Assets<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">376.24<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">272.39<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">268.10<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">133.96<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px; border: 1px solid #000000; font-weight: bold; background-color: #ffffff; position: sticky; left: 0; z-index: 1; border-right: 2px solid #000000;\">Total Income<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">89.43<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">163.74<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">155.18<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">97.03<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px; border: 1px solid #000000; font-weight: bold; background-color: #ffffff; position: sticky; left: 0; z-index: 1; border-right: 2px solid #000000;\">Profit After Tax<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">7.76<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">14.43<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">8.42<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">4.38<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px; border: 1px solid #000000; font-weight: bold; background-color: #ffffff; position: sticky; left: 0; z-index: 1; border-right: 2px solid #000000;\">EBITDA<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">16.24<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">39.44<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">31.70<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">17.64<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px; border: 1px solid #000000; font-weight: bold; background-color: #ffffff; position: sticky; left: 0; z-index: 1; border-right: 2px solid #000000;\">Net Worth<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">209.37<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">95.78<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">76.40<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">31.49<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px; border: 1px solid #000000; font-weight: bold; background-color: #ffffff; position: sticky; left: 0; z-index: 1; border-right: 2px solid #000000;\">Reserves &amp; Surplus<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">188.84<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">80.36<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">61.30<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">24.34<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px; border: 1px solid #000000; font-weight: bold; background-color: #ffffff; position: sticky; left: 0; z-index: 1; border-right: 2px solid #000000;\">Total Borrowings<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">76.07<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">93.95<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">118.79<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">68.55<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<div class=\"md:hidden lg:hidden xl:hidden\" style=\"text-align: center; margin-top: 10px; margin-bottom: 20px; font-size: 13px; color: #666666; font-family: Arial, sans-serif;\">\u2190 Swipe horizontally to see complete financial history \u2192<\/div>\n<style>\n    @media screen and (min-width: 768px) {<br \/>        .md\\:hidden {<br \/>            display: none !important;<br \/>        }<br \/>    }<br \/><\/style>\n<p><em><span style=\"font-weight: 400; font-size: 8pt;\">(<strong>Source: <\/strong>RHP)<\/span><\/em><\/p>\n<h2><strong>Key Ratios &amp; Metrics<\/strong><\/h2>\n<div class=\"wp-block-table\" style=\"width: 100%; border: 1px solid #000000; margin-bottom: 20px;\">\n<table style=\"width: 100%; border-collapse: collapse; font-family: Arial, sans-serif; font-size: 15px; color: #000000; background-color: #ffffff;\">\n<thead>\n<tr style=\"border-bottom: 2px solid #000000;\">\n<th style=\"padding: 12px; border: 1px solid #000000; text-align: left; font-weight: bold; background-color: #ffffff;\">KPI<\/th>\n<th style=\"padding: 12px; border: 1px solid #000000; text-align: center; font-weight: bold; background-color: #ffffff;\">30 Sep 2025<\/th>\n<th style=\"padding: 12px; border: 1px solid #000000; text-align: center; font-weight: bold; background-color: #ffffff;\">31 Mar 2025<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"padding: 10px; border: 1px solid #000000; font-weight: bold;\">ROE<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">5.13%<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">16.82%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px; border: 1px solid #000000; font-weight: bold;\">ROCE<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">9.28%<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">28.92%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px; border: 1px solid #000000; font-weight: bold;\">RoNW<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">5.09%<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">15.09%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px; border: 1px solid #000000; font-weight: bold;\">PAT Margin<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">8.93%<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">8.88%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px; border: 1px solid #000000; font-weight: bold;\">EBITDA Margin<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">18.68%<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">24.18%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px; border: 1px solid #000000; font-weight: bold;\">Price to Book Value<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">\u2013<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000; text-align: center;\">10.89<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<h2><strong>IPO Objects<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">The net proceeds from the fresh issue will be utilised towards:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Capacity expansion &amp; facility upgradation \u2013 \u20b9110.80 Cr<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Establishment of new R&amp;D centre \u2013 \u20b918.02 Cr<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Repayment\/prepayment of borrowings \u2013 \u20b914.30 Cr<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Working capital requirements \u2013 \u20b933.00 Cr<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Investment in Singapore subsidiary for proposed acquisition \u2013 \u20b935.64 Cr<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">General corporate purposes<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Total proposed utilisation: \u20b9211.76 Cr<\/span><\/p>\n<p><em><span style=\"font-weight: 400; font-size: 8pt;\">(<strong>Source: <\/strong>RHP)<\/span><\/em><\/p>\n<h2><strong>Market Outlook &amp; GMP Trends<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">As of the latest available updates, grey market activity for Sai Parenteral\u2019s IPO has not shown a clear premium trend. GMP movements remain limited at this stage.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With the upper price band fixed at \u20b9392, listing performance will depend on subscription levels and overall market sentiment closer to the listing date.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Grey market data is unofficial and should not be considered a reliable indicator of actual listing performance.<\/span><\/p>\n<p><em><span style=\"font-weight: 400; font-size: 8pt;\">(<strong>Source:<\/strong> Market updates)<\/span><\/em><\/p>\n<h2><strong>IPO Details<\/strong><\/h2>\n<div class=\"wp-block-table\" style=\"width: 100%; border: 1px solid #000000; margin-bottom: 20px;\">\n<table style=\"width: 100%; border-collapse: collapse; font-family: Arial, sans-serif; font-size: 15px; color: #000000; background-color: #ffffff;\">\n<thead>\n<tr style=\"border-bottom: 2px solid #000000;\">\n<th style=\"padding: 12px; border: 1px solid #000000; text-align: left; font-weight: bold; background-color: #ffffff; width: 40%;\">Particulars<\/th>\n<th style=\"padding: 12px; border: 1px solid #000000; text-align: left; font-weight: bold; background-color: #ffffff;\">Details<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"padding: 10px; border: 1px solid #000000; font-weight: bold;\">IPO Date<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000;\">24 \u2013 27 March, 2026<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px; border: 1px solid #000000; font-weight: bold;\">Listing Date<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000;\">April 2, 2026<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px; border: 1px solid #000000; font-weight: bold;\">Face Value<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000;\">\u20b95 per share<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px; border: 1px solid #000000; font-weight: bold;\">Price Band<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000;\">\u20b9372 \u2013 \u20b9392<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px; border: 1px solid #000000; font-weight: bold;\">Lot Size<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000;\">38 Shares<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px; border: 1px solid #000000; font-weight: bold;\">Issue Type<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000;\">Book Building IPO<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px; border: 1px solid #000000; font-weight: bold;\">Sale Type<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000;\">Fresh Issue + OFS<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px; border: 1px solid #000000; font-weight: bold;\">Total Issue Size<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000;\">\u20b9409 Cr<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px; border: 1px solid #000000; font-weight: bold;\">Min Retail Investment<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000;\">\u20b914,896<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px; border: 1px solid #000000; font-weight: bold;\">Max Retail Investment<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000;\">\u20b91,93,648<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px; border: 1px solid #000000; font-weight: bold;\">Listing Exchange<\/td>\n<td style=\"padding: 10px; border: 1px solid #000000;\">BSE, NSE<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<h2><strong>Conclusion<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Sai Parenteral\u2019s IPO offers exposure to India\u2019s growing pharmaceutical formulations and CDMO market. The company benefits from diversified therapeutic presence, accredited manufacturing facilities, and expanding export footprint.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, the IPO is priced at a relatively high earnings multiple compared to recent financial performance. Investors should evaluate growth visibility, capacity expansion benefits, CDMO scalability, and valuation comfort before participating.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 10pt;\"><b><i>Disclaimer:<\/i><\/b><i>\u00a0Investment in securities market is subject to market risks. Read all the related documents carefully before investing. This content is purely for information purpose only and in no way is to be considered as an advice or recommendation. The securities are quoted as an example and not as a recommendation. Investors are requested to do their own due diligence before investing.<\/i><\/span><\/p>\n<p><span style=\"font-size: 10pt;\"><i>SEBI Reg No.: Broking \u2013 INZ000240532, Research Analyst \u2013 INH000020086, Depository Participant \u2013 IN-DP-416-2019, Depository Participant Number: CDSL \u2013 12088800, NSE (90165), BSE (6707), MCX (57525), NCDEX (1315), MSEI (85300).<\/i><\/span><\/p>\n<p><span style=\"font-size: 10pt;\"><i>Registered Office: 136, 1st Floor, Devika Tower, Nehru Place, Delhi \u2013 110019.<\/i><\/span><\/p>\n<p><span style=\"font-size: 10pt;\"><i>For complete Disclaimers, visit<\/i><a href=\"https:\/\/www.paytmmoney.com\/\">\u00a0<i>https:\/\/www.paytmmoney.com<\/i><\/a><i>.<\/i><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sai Parenteral\u2019s IPO is a book-built public issue aggregating to \u20b9408.79 crore. The IPO comprises a fresh issue of 0.73 crore equity shares amounting to \u20b9285.00 crore and an Offer for Sale (OFS) of 0.32 crore shares aggregating to \u20b9123.79 crore. The IPO will open for subscription on March 24, 2026, and close on March<a href=\"https:\/\/www.paytmmoney.com\/blog\/sai-parenterals-ipo-review-2026\/\">Continue reading <span class=\"sr-only\">&#8220;Sai Parenteral\u2019s IPO Review: Key Details, Company Overview, Industry Context &#038; Financials&#8221;<\/span><\/a><\/p>\n","protected":false},"author":27,"featured_media":6490,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[1256,1289,1293,1291,1254,1290,1288,1286,1292,1281,1285,1283,1284,1282,1287],"class_list":["post-6489","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo","tag-book-building-ipo-india","tag-cdmo-pharma-companies-india","tag-ipo-analysis-pharma-sector","tag-ipo-dates-march-2026","tag-ipo-investment-india","tag-ipo-lot-size-sai-parenterals","tag-ipo-review-india","tag-pharma-ipo-india-2026","tag-sai-parenterals-financials","tag-sai-parenterals-ipo","tag-sai-parenterals-ipo-details","tag-sai-parenterals-ipo-gmp","tag-sai-parenterals-ipo-price-band","tag-sai-parenterals-ipo-review","tag-upcoming-ipo-india-2026"],"_links":{"self":[{"href":"https:\/\/www.paytmmoney.com\/blog\/wp-json\/wp\/v2\/posts\/6489","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.paytmmoney.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.paytmmoney.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.paytmmoney.com\/blog\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/www.paytmmoney.com\/blog\/wp-json\/wp\/v2\/comments?post=6489"}],"version-history":[{"count":0,"href":"https:\/\/www.paytmmoney.com\/blog\/wp-json\/wp\/v2\/posts\/6489\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.paytmmoney.com\/blog\/wp-json\/wp\/v2\/media\/6490"}],"wp:attachment":[{"href":"https:\/\/www.paytmmoney.com\/blog\/wp-json\/wp\/v2\/media?parent=6489"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.paytmmoney.com\/blog\/wp-json\/wp\/v2\/categories?post=6489"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.paytmmoney.com\/blog\/wp-json\/wp\/v2\/tags?post=6489"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}