Sai Parenteral Limited, a pharmaceutical formulations and contract development manufacturing organization (CDMO), is launching its ₹409 crore initial public offering (IPO) on Tuesday, March 24, 2026. The issue will remain open until March 27, with shares expected to list on April 2 on both BSE and NSE.
The company, incorporated in 2001, has steadily expanded its portfolio across pharmaceutical formulations and CDMO services. The IPO aims to raise funds for expansion, research and development, and working capital, while also providing an exit route for existing shareholders through an Offer for Sale.
IPO Structure
The ₹409 crore IPO comprises a fresh issue of shares worth ₹285 crore and an Offer for Sale (OFS) of shares worth ₹124 crore. The lot size is fixed at 38 shares, requiring a minimum retail investment of approximately ₹14,896 at the upper price band.
Grey Market Premium (GMP) Trends
Reports suggest that Sai Parenteral’s IPO is trading at a modest premium in the grey market, reflecting cautious optimism among investors. Analysts highlight the company’s strong presence in pharmaceutical formulations and CDMO services as potential drivers of long-term growth.
Industry Context
Sai Parenteral operates in a competitive pharmaceutical sector, where demand for formulations and contract manufacturing continues to rise. With India’s growing focus on healthcare innovation and exports, the IPO is expected to attract both institutional and retail investors.
Key Highlights
* Sai Parenteral IPO opens March 24, closes March 27
* Price band set at ₹372–₹392 per share
* Issue size ₹409 crore: ₹285 crore fresh issue, ₹124 crore OFS
* Lot size 38 shares, minimum retail investment ~₹14,896
* Listing date scheduled for April 2, 2026 on BSE and NSE
* Proceeds to be used for expansion, R&D, and working capital
* GMP indicates cautious investor sentiment
Sources: Mint, Business Standard, IPO Watch, Chittorgarh