Sai Parenterals IPO
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Sai Parenterals IPO details
Schedule of Sai Parenterals
| Issue open date | 24 Mar 2026 |
| Issue close date | 27 Mar 2026 |
| UPI mandate deadline | 27 Mar 2026 (5 PM) |
| Allotment finalization | 30 Mar 2026 |
| Refund initiation | 01 Apr 2026 |
| Share credit | 01 Apr 2026 |
| Listing date | 02 Apr 2026 |
| Mandate end date | 12 Apr 2026 |
| Lock-in end date for anchor investors (50%) | 29 Apr 2026 |
| Lock-in end date for anchor investors (remaining) | 28 Jun 2026 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Sai Parenterals
Sai Parenteral’s Limited is a diversified pharmaceutical formulations company incorporated in January 2001. It was originally established as a private limited company and was converted into a public limited company in January 2022. Anil Kumar Karusala, Vijitha Gorrepati and Karusala Aruna promote the Company. The Company operates across branded generic formulations and contract development and manufacturing (CDMO) services. Its product portfolio spans multiple therapeutic areas, including cardiovascular, neuropsychiatry, anti-diabetic, antibiotics, gastroenterology, respiratory care, dermatology, and vitamins and supplements. Offerings cover a wide range of dosage forms such as injectables, tablets, capsules, liquid orals and ointments.
Sai Parenteral has strong capabilities in sterile injectable manufacturing, including dry powder injections, vials, ampoules and pre-filled syringes. Its operations are supported by multiple manufacturing facilities in Telangana and Andhra Pradesh, along with in-house research and development capabilities. The Company follows an integrated business model, combining product development, manufacturing and customer-centric execution. Its key strengths include diversified product offerings, established manufacturing infrastructure, regulatory-focused processes and long-standing promoter-led management experience.
Financials of Sai Parenterals
Utilisation of Proceeds
| Purpose | INR crores (%) |
|---|---|
| Capacity expansion and upgradation of manufacturing facilities | 110.8 (38.88%) |
| Establishment of a new R&D Centre | 18.02 (6.32%) |
| Repayment/prepayment of certain outstanding borrowings | 14.3 (5.02%) |
| Working capital requirements | 33 (11.58%) |
| Investment in wholly owned subsidiary (Sai Parenterals Pte Ltd, Singapore) for the acquisition of Noumed Pharmaceuticals Pty Ltd (Australia) |
35.64 (12.51%) |
| General corporate purposes | 73.24 (25.76%) |
Strengths
- Diversified pharma portfolio across branded generics and CDMO services
- Strong capabilities in sterile injectable manufacturing
- Presence across multiple therapeutic areas and dosage forms
- Promoter-led management with a long operating track record
- Multiple manufacturing facilities supported by in-house R&D
Risks
- High revenue dependence on injectable formulations
- Manufacturing facilities are concentrated in limited geographies
- Exposure to stringent regulatory inspections and compliance risks
- Dependence on third-party suppliers for key raw materials
- Customer concentration may affect revenue stability