Sai Parenterals Limited, a well-diversified pharmaceutical formulations company in India, is planning to raise ₹409 crores through an IPO.
[Fresh Issue ₹285 Cr + OFS ₹124 Cr]
Sai parenterals ipo price is ₹372 to ₹392 per share.
Sai Parenterals: History
The Company was initially incorporated as Sai Parenteral’s Private Limited, a private limited company under the Companies Act, 1956, on January 12, 2001.
The Company was then converted into a public limited company, on January 5, 2022, under a special resolution passed by the shareholders.
Its name was subsequently changed to Sai Parenterals Limited, and a fresh certificate of incorporation was issued by the RoC on January 17, 2022.
Sai Parenterals: Business
Sai Parenterals Limited is a diversified pharmaceutical formulations company in the country with capabilities in research, development, and manufacturing.
The company’s business can be broadly classified into two segments –
- Branded Generic Formulations: These are pharmaceutical products that are produced and sold by a company under its own brand name, typically after the original patent has expired.
- Contract Development and Manufacturing Organisation (CDMO): This business involves designing and developing new pharmaceutical products, which require product approvals and international regulatory filings to sell a drug (medicine) and commercial manufacturing.
The company’s product portfolio includes antibiotics, anti-diabetics, analgesics, cardiovascular, gastroenterology, minerals and supplements, neuropsychiatry, respiratory health, vitamins, and dermatology (in dosage forms such as capsules, injectables, liquid orals, tablets, and ointments).
Sai parenterals exports its products to the Regulated and Semi-Regulated Markets of Africa, Australia, the Middle East, New Zealand, and Southeast Asia through distributors.
Manufacturing Facilities
As of this DRHP, the company owns and operates five (5) manufacturing facilities in India.
These manufacturing facilities are spread across an area of 1,14,540 sq. ft. and have a combined installed capacity of 1,160 million units per annum on a single-shift basis.
Strategies Ahead
Expansion into the global injectable formulations market.
Capitalise on the CDMO opportunity by leveraging manufacturing capabilities.
Grow the Branded Generic Formulations business in the international markets.
Expand capabilities through strategic acquisitions.
Strengthening presence in Regulated Markets through Noumed’s upcoming manufacturing facility in Australia.
Focus on developing new products to drive future growth,
Company Promoters
Anil Kumar Karusala,
Vijitha Gorrepati,
Karusala Aruna.
Refer to Sai parenterals limited drhp for further details.
IPO Details
Sai Parenterals IPO date: 24 – 27 March 2026
Minimum Amount: ₹14,896
Minimum Bid: 38 Shares
Face Value: ₹5
Listing On: NSE, BSE
Objectives of the IPO
1) Capacity expansion and upgradation of manufacturing facilities
2) Establishment of a new R&D Centre
3) Funding the working capital requirements of the Company
4) Repayment (prepayment) of outstanding borrowings
5) Repayment of bridge loan and term loan (for Sai Parenterals Pte Limited, Singapore (wholly owned subsidiary),
6) General corporate purposes.
Financial
Book Running Lead Manager
Arihant Capital Markets
CONCLUSION
Considering financial performance, nature of the business, and the above-listed factors in mind, FinBlab recommends ‘NEUTRAL‘ ratings (for the time-being) on Sai Parenterals IPO.
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