Last updated on March 25th, 2026 at 11:50 am
Sai Parenteral Limited is a diversified pharmaceutical formulations company engaged in the research, development and manufacturing of a broad range of branded generic products and contract development and manufacturing (CDMO) services for both domestic and international markets.
The Company offers branded generic formulations and CDMO (Contract Development & Manufacturing Organisation) services covering injectables, tablets, capsules, liquid orals, and ointments across multiple therapeutic segments.
Sai Parenteral’s has filed DRHP to raise funds via IPO which comprises completely as Fresh issue of ₹ 285 Crore & Offer for Sale (OFS) of ₹ 123.79 Cr.
IPO will open for subscription on Mar 24, 2026, and the price band for the IPO is ₹372 to ₹392 with a lot size of 28 Shares.
| Issue Size: | ₹ 408.79 Cr |
| Fresh Issue: | ₹ 285 Crore |
| Offer for Sale: | ₹ 123.79 Cr |
| Price Range: | ₹372 to ₹392 |
| Lot Size: | 38 Shares |
Sai Parenteral Limited important data points
Revenue, PAT, EBITDA
| Year | Fiscal 2025 |
| Networth | ₹ 95.8 Cr |
| Revenue: | ₹ 163.1 Cr |
| EBITDA | ₹ 39.4 Cr |
| PAT | ₹ 14.5 Cr |
| EBITDA Margin: | ~24.18% |
| PAT Margin | ~8.90% |
| Face Value: | ₹ 05 per Eq. Share |
IPO important dates
| Open Date: | Tue, Mar 24, 2026 |
| Close Date: | Fri, Mar 27, 2026 |
| Anchor Investor Bidding | Mon, Mar 23, 2026 |
| Allotment Date: | Mon, Mar 30, 2026 |
| Refunds & Demat Credit | Wed, Apr 1, 2026 |
| Tentative Listing Date: | Thu, Apr 2, 2026 |
Use of Proceeds
| Purpose | Amount |
| Capacity expansion & Subsidiary investment | ~ ₹ 146.79 Cr |
| Working Capital Requirement | ~ ₹ 33 Cr |
| Borrowing payment | ~ ₹ 20 Cr |
| New R&D | ~ ₹ 18.02 Cr |
| General Corporate Purpose | Balance |
Sai Parenteral Limited Financial Data
| 2023 | 2024 | 2025 | |
| Revenue (₹ Cr) | ₹ 96.8 | ₹ 153.8 | ₹ 163.1 |
| Profit (₹ Cr) | ₹ 4.4 | ₹ 8.4 | ₹ 14.5 |
| Asset (₹ Cr) | ₹ 134.0 | ₹ 268.1 | ₹ 272.4 |
| Net Worth (₹ Cr) | ₹ 31.5 | ₹ 76.4 | ₹ 95.8 |
Sai Parenteral IPO Grey Market Premium
| Date | IPO Price | IPO GMP | Profit per lot |
| 25-Mar | ₹372 to ₹392 | ₹ NA | ₹ NA |
| 24-Mar | ₹372 to ₹392 | ₹ NA | ₹ NA |
| 23-Mar | ₹372 to ₹392 | ₹ NA | ₹ NA |
| 22-Mar | ₹372 to ₹392 | ₹ NA | ₹ NA |
| 21-Mar | ₹372 to ₹392 | ₹ NA | ₹ NA |
| 20-Mar | ₹372 to ₹392 | ₹ NA | ₹ NA |
Sai Parenteral Limited Promoters – Pre offer equity (Approx)
| Vijitha Gorrepati | ~34.61% |
| Anil Kumar Karusala | ~12.35% |
| Karusala Aruna | ~8.85% |
Sai Parenteral Limited IPO Pros & Cons
Strengths:
- Diversified pharmaceutical and CDMO business with branded generics and contract manufacturing across multiple therapeutic segments.
- Revenue and profit growth in recent fiscal years, with expanding margins indicating operational improvement.
- Strategic expansion & acquisitions, including a controlling stake in Noumed Pharmaceuticals (Adelaide based) to strengthen presence in regulated markets.
- IPO proceeds are used for capacity expansion, new R&D centre, debt repayment and international growth, which can support future scaling.
- Experienced management team with domain knowledge and track record in pharma manufacturing and export markets.
Risks:
- Exposure to regulatory and market risks in highly regulated pharmaceutical markets could adversely affect business operations.
- Dependence on key suppliers and customers; disruption or loss of contracts may materially impact revenue.
- International business expansion adds legal, tax and economic complexity, increasing execution risk.
- Debt levels and leverage risk could constrain financial flexibility if growth objectives do not turn out as planned.
- IPO valuation and performance uncertainty, as the price band is not yet fixed and listing market conditions can affect returns.
Sai Parenteral Limited Lot Size details
| Application Type | Lot Size | No. of Lots | No. of Shares | Investment Amount |
| Retail(Min) | 38 | 1 | 38 | ₹ 14,896 |
| Retail (Max) | 38 | 13 | 494 | ₹ 1,93,648 |
| Small HNI (Min) | 38 | 14 | 532 | ₹ 2,08,544 |
| Small HNI (Max) | 38 | 66 | 2508 | ₹ 9,83,136 |
| Big HNI (Min) | 38 | 67 | 2,546 | ₹ 9,98,032 |
Lead Managers / Registrars of Sai Parenteral Limited
| Lead / Book Running Lead Managers | Arihant Capital Markets Limited |
| Registrar (RTA) | Bigshare Services Private Limited |
Founding Year of Sai Parenteral Limited & Managing Director
Sai Parenteral Limited was incorporated in the year 2001.
Mr. K. Anil Kumar Karusala is the MD & CEO of the company.
Sai Parenteral Limited FAQ
- Q1. What is the business of Sai Parenteral Limited?
Last updated on March 25th, 2026 at 11:50 am
It is a diversified pharmaceutical formulations company making branded generics and CDMO products across injectables, tablets, capsules and more for domestic and international markets. - Q2. Why is the company raising funds via IPO?
Last updated on March 25th, 2026 at 11:50 am
Sai Parental is raising funds for capacity expansion, establishing a new R&D centre, debt repayment, working capital and overseas acquisition investments to scale growth. - Q3. What is the size of the issue and where will it list?
Last updated on March 25th, 2026 at 11:50 am
The issue size comprises a ₹285 crore as fresh issue and OFS of ₹ 123.79 Cr. It will be listed on the BSE & NSE platform. - Q4. What are the risks to an investor?
Last updated on March 25th, 2026 at 11:50 am
Investors face regulatory compliance risks, execution challenges in international markets, competition and business volatility inherent in pharma manufacturing. - Q5. What are the potential upsides?
Last updated on March 25th, 2026 at 11:50 am
Growing revenue/profit, expanding global footprint, strengthened CDMO capabilities, and strategic acquisition tailwinds for future market share. - Q6. How to apply for the IPO?
Last updated on March 25th, 2026 at 11:50 am
You can apply for the IPO via your brokerage/demat/bank account or UPI when the IPO opens for subscription. - Q 7. When is the tentative listing date?
Last updated on March 25th, 2026 at 11:50 am
While the IPO opens on 24th Mar’26 & closes on 27th Mar’26, it will be listed on 02nd April’26.