📋 Sai Parenteral's Ltd IPO Review 2026 — GMP, Pros Cons & Apply or Avoid?

The Sai Parenteral's Ltd IPO opened on 24 March 2026 and closed on 27 March 2026 on NSE & BSE at ₹372–₹392 per share. The company raised ₹408.79 Crore via fresh issue of ₹285 Crore and OFS of ₹123.79 Crore. Overall subscription was 1.05 times with QIB at 1.71x and NII at 2.36x. Shares listed on 2 April 2026.

🏢 Company Background & Business Model

Sai Parenteral's Ltd was incorporated in 2001 in Hyderabad. The company is a diversified pharmaceutical formulations company operating in Branded Generic Formulations and CDMO segments. It manufactures injectables, tablets, capsules, liquid orals, and ointments across cardiovascular, neuropsychiatry, anti-diabetic, respiratory, antibiotics, and dermatology therapeutic areas. Five manufacturing facilities with 1,160 million units annual capacity hold global accreditations enabling export to regulated markets. The company is expanding internationally via acquisition of Noumed Pharmaceuticals (Australia) through its Singapore subsidiary.

📊 Key IPO Details

◆ Exchange: NSE & BSE (Mainboard)

◆ Price Band: ₹372 – ₹392 per share

◆ Face Value: ₹5 per share

◆ Lot Size: 38 shares

◆ Minimum Investment (Retail): ₹14,896 (1 lot)

◆ Issue Size: ₹408.79 Crore

◆ Subscription: 1.05x overall | QIB 1.71x | NII 2.36x | Retail 0.116x

◆ Listing Date: 2 April 2026 — NSE & BSE

◆ GMP Today: Check live on IndiaIPOHub

Strengths

🔹 Diversified Formulations + CDMO Revenue — Two complementary segments with growing CDMO share.

🔹 PAT Tripled in 2 Years — From ₹4.38 Cr (FY23) to ₹14.45 Cr (FY25).

🔹 5 Globally Accredited Facilities — Enables supply to regulated international markets.

🔹 Australia Acquisition — Noumed Pharmaceuticals acquisition expands international presence.

⚠️ Risks

🔸 Weak Retail Demand — Retail quota subscribed only 0.116 times.

🔸 Acquisition Integration Risk — Cross-border M&A adds execution complexity.

🔸 Premium Valuation — Small PAT base relative to issue size.

📅 IPO Timeline

◆ Open: 24 March 2026 | Close: 27 March 2026

◆ Allotment: 30 March 2026 | Listing: 2 April 2026 — NSE & BSE

🔍 IndiaIPOHub Recommendation

Track Sai Parenteral's IPO GMP, subscription and allotment live on IndiaIPOHub. Also explore all 2026 IPOs on IndiaIPOHub.