
Minimum Investment
About Company
Company Name: Sai Parenterals Limited
Industry / Sector: Pharmaceuticals / Branded Generics & CDMO (Injectables, Tablets, Capsules, etc.)
Founded Year: 2001
Promoters: Anil Kumar Karusala, Vijitha Gorrepati, Karusala Aruna
Incorporated in 2001, Sai Parenterals Limited is a diversified pharmaceutical formulations company with expertise in research, development, and manufacturing. It 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/supplements (VMS), analgesics, and dermatology. Offerings are across dosage forms such as injectables, tablets, capsules, liquid orals, and ointments. The company serves central and state government agencies, pharmaceutical companies, public and private hospitals, and super stockists in India. It entered exports in FY2023 after acquiring two internationally accredited facilities in Hyderabad and now supplies to regulated and semi-regulated markets in Australia, New Zealand, Southeast Asia, the Middle East, and Africa. The company owns and operates five manufacturing facilities in India (four in Hyderabad, Telangana and one in Ongole, Andhra Pradesh via subsidiary Revat Laboratories). As of December 31, 2025, it employed 298 full-time employees.
IPO Basic Details
| Company Name | Sai Parenterals Limited |
| IPO Type | Mainboard IPO |
| Price Band | ₹372 – ₹392 |
| Lot Size | 38 |
| Total Issue Size | ₹408.79 Cr (1,04,28,288 shares) |
IPO Strengths & Risks
Strengths
- Diversified generic formulations player with established track record
- Strategically located and internationally 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
Risks
- Stringent regulatory requirements in pharma
- Competition in generics and CDMO segment
- Raw material price volatility
- Export market and regulatory risks
IPO Important Dates
| IPO Open Date | 24 Mar 2026 |
| IPO Close Date | 27 Mar 2026 |
| Basis of Allotment | 30 Mar 2026 |
| Refund Initiation | 31 Mar 2026 |
| Demat Credit Date | 31 Mar 2026 |
| Listing Date | 02 Apr 2026 |
| Anchor Investor Date | - |
| UPI Mandate Deadline | - |
IPO Objectives
- Capital expenditure for machinery and equipment – -
- Funding working capital requirements – -
- Debt repayment – -
- General corporate purposes – Remaining amount
Investor Reservation
| QIB Quota | 50% (incl. Anchor) |
| Retail Quota | 35% |
| HNI Quota | 15% |
| Employee Quota | - |
| Shareholder Quota | - |
| Anchor Investor Allocation | - |
Market Lot Details
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 lot | 38 | ₹14,896 |
| Retail Maximum | 13 lots | 494 | ₹1,93,648 |
| S-HNI Minimum | 14 lots | 532 | ₹2,08,544 |
| S-HNI Maximum | - | - | - |
| B-HNI Minimum | 67 lots | 2546 | ₹9,98,032 |
Key Performance Indicators (KPI)
| ROE | 5.13% (Sep 30, 2025) / 16.82% (Mar 31, 2025) |
| ROCE | 9.28% (Sep 30, 2025) / 28.92% (Mar 31, 2025) |
| RoNW | 5.09% (Sep 30, 2025) / 15.09% (Mar 31, 2025) |
| PAT Margin | 8.93% (Sep 30, 2025) / 8.88% (Mar 31, 2025) |
| EBITDA Margin | 18.68% (Sep 30, 2025) / 24.18% (Mar 31, 2025) |
| EPS | ₹5.43 (pre-IPO) |
| NAV per share | - |
| Debt to Equity | - |
| P/E Ratio | 72.19x (pre-IPO) |
| Industry P/E | - |
Company Financial Data
| Period | Assets | Total Income | PAT | EBITDA | Net Worth | Borrowings |
|---|---|---|---|---|---|---|
| 31 Mar 2023 | ₹133.96 Cr | ₹97.03 Cr | ₹4.38 Cr | ₹17.64 Cr | ₹31.49 Cr | ₹68.55 Cr |
| 31 Mar 2024 | ₹268.10 Cr | ₹155.18 Cr | ₹8.42 Cr | ₹31.70 Cr | ₹76.40 Cr | ₹118.79 Cr |
| 31 Mar 2025 | ₹272.39 Cr | ₹163.74 Cr | ₹14.43 Cr | ₹39.44 Cr | ₹95.78 Cr | ₹93.95 Cr |
| 30 Sep 2025 | ₹376.24 Cr | ₹89.43 Cr | ₹7.76 Cr | ₹16.24 Cr | ₹209.37 Cr | ₹76.07 Cr |
Grey Market Premium
| GMP Price | Not mentioned on page |
| Kostak Rate | N/A |
| Subject to Sauda | N/A |
| Last Updated | Mar 2026 |
| Estimated Listing Price | N/A |
IPO Subscription Data
| Total Subscription | 1.08x (as of 27 Mar 2026, Day 3, 6:54:37 PM) |
| QIB (Ex Anchor) | 1.73x |
| HNI Subscription | 2.45x |
| Retail Subscription | 0.12x |
| Anchor | Fully subscribed (₹122.64 Cr) |
IPO Intermediaries
Registrar: Bigshare Services Pvt. Ltd.
Registrar Website: https://ipo.bigshareonline.com
IPO Lead Manager(s)
Company Information
Address: Plot No 39, 5th floor, Lavanya Arcade Jayabheri Enclave, Gachibowli, K.V.Rangareddy, Seri Lingampally, Hyderabad, Telangana, 500032
Website: https://www.saiparenterals.com/
Email: cs@saiparenterals.com
Phone: +91 79979 91301
IPO Documents
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