Sai Parenteral’s Ltd. is a diversified pharmaceutical formulations company with strong capabilities in research, development, and manufacturing.
Sai Parenteral’s operates in two key segments—Branded Generic Formulations and CDMO (Contract Development & Manufacturing), catering to both domestic and international markets.
The company offers a wide range of formulations across key therapeutic areas:
- Cardiovascular
- Neuropsychiatry
- Anti-diabetic
- Respiratory
- Antibiotics
- Gastroenterology
- Vitamins, Minerals & Supplements (VMS)
- Analgesics & Dermatology
Sai Parenteral’s serves government agencies, pharma companies, hospitals, and distributors in India, and entered exports in FY23 after acquiring international facilities. The company now supplies to markets across Australia, New Zealand, Southeast Asia, the Middle East, and Africa.
Sai Parenteral’s operates five manufacturing facilities in India, including four in Hyderabad (injectables, WHO-GMP units, TGA/PIC/S oral unit, and cephalosporin unit) and one in Ongole through its subsidiary, Revat Laboratories.
Sai Parenteral’s has a workforce of 298 employees as of December 31, 2025.
Sai Parenteral’s IPO – Details
| IPO Opening Date | 24 March 2026 |
| IPO Closing Date | 27 March 2026 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 1,04,28,288 Shares Worth ₹408.79 Crore Fresh Issue: 72,70,408 Shares Worth ₹285.00 Crore Offer For Sale: 31,57,880 Shares Worth ₹123.79 Crore |
| Face Value | ₹5 per equity share |
| IPO Price | ₹372 – ₹392 per share |
| Market Lot | 38 Shares |
| Min Order | 38 Shares [ 1 Lot ] |
| Listing At | BSE, NSE |
| Register | Bigshare Services Pvt. Ltd. |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Sai Parenteral’s IPO – Date Schedule
| IPO Open Date | 24 March 2026 |
| IPO Close Date | 27 March 2026 |
| Basis of Allotment | 30 March 2026 |
| Initiation of Refund | 01 April 2026 |
| Credit of Shares to Demat Account | 01 April 2026 |
| IPO Listing Date | 02 April 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 27, 2026 |
Sai Parenteral’s IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 38 | ₹14,896 |
| Retail (Max) | 13 | 494 | ₹1,93,648 |
| S-HNI (Min) | 14 | 532 | ₹2,08,544 |
| S-HNI (Max) | 67 | 2,546 | ₹9,98,032 |
| B-HNI (Min) | 68 | 2,584 | ₹10,12,928 |
Competitive Strength
- Diversified generic formulations player with an established track record.
- Strategically located and 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 with extensive domain knowledge.
Company Promoters
- Anil Kumar Karusala
- Vijitha Gorrepati
- Karusala Aruna
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2023 | ₹97.03 Cr | ₹89.78 Cr | ₹4.38 Cr | ₹68.55 Cr |
| 31 March 2024 | ₹155.18 Cr | ₹142.63 Cr | ₹8.42 Cr | ₹118.79 Cr |
| 31 March 2025 | ₹163.74 Cr | ₹143.84 Cr | ₹14.43 Cr | ₹93.95 Cr |
| 30 September 2025 | ₹89.43 Cr | ₹78.27 Cr | ₹7.76 Cr | ₹76.07 Cr |
Key Performance Indicator
| KPI | Values (Sep 30, 2025) |
|---|---|
| ROE | 5.13% |
| ROCE | 9.28% |
| RoNW | 5.09% |
| PAT Margin | 8.93% |
| EBITDA Margin | 18.68% |
| Pre IPO | Post IPO | |
| EPS (₹) | 5.43 | – |
| P/E (x) | 72.19 | – |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Capacity expansion and upgradation of manufacturing facilities. | ₹110.80 |
| Establishment of a new R&D Centre. | ₹18.02 |
| Repayment/prepayment of certain outstanding borrowings. | ₹14.30 |
| Working capital requirements. | ₹33.00 |
| Investment in wholly owned subsidiary, Sai Parenterals Pte Limited (Singapore), in relation to the proposed acquisition of Noumed Pharmaceuticals Pty Limited (Australia). | ₹35.64 |
| General corporate purposes. |
Sai Parenteral’s IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 1 | Sai Life Sciences Limited | 107.70 |
| 2 | 10 | Innova Captab Limited | 32.45 |
| 3 | 10 | Senores Pharmaceutic als Limited | 64.30 |
| 4 | 1 | Gland Pharma Limited | 44.71 |
✅Strengths
- Diversified model – Branded Generics + CDMO.
- Wide product portfolio across therapies.
- Strong manufacturing (5 plants, global accreditations).
- Growing exports (Australia, Middle East, etc.).
- Established B2B & government client base.
- Focus on injectables (better margins, high entry barrier).
⚠️Risks
- Customer concentration risk.
- Strict regulatory compliance required.
- Manufacturing concentrated in Hyderabad.
- Working capital intensive business.
- High industry competition.
- Export & currency-related risks.
Sai Parenteral’s IPO Promoter Holding
| Pre Issue Share Holding | 61.23% |
| Post Issue Share Holding | 51.16% |
Sai Parenteral’s IPO Prospectus
Company Contact Information
| Sai Parenteral’s Ltd. Plot No 39, 5th floor, Lavanya Arcade, Jayabheri Enclave Gachibowli, K.V.Rangareddy, Seri Lingampally Hyderabad, Telangana, 500032 Phone: +91 79979 91301 Email: cs@saiparenterals.com Website: https://www.saiparenterals.com/ |
Sai Parenteral’s IPO Registrar
| Bigshare Services Pvt. Ltd. Phone: +91-22-6263 8200 Email: ipo@bigshareonline.com Website: https://ipo.bigshareonline.com/IPO_Status.html |
Sai Parenteral’s IPO Lead Manager(s)
| 1. Arihant Capital Markets Limited |
Sai Parenteral’s IPO FAQs
| What is the Sai Parenteral’s IPO? Sai Parenteral’s IPO is a main-board IPO. The issue is priced at ₹372 to ₹392 per equity share. The IPO is to be listed on the BSE & NSE. |
| When will the Sai Parenteral’s IPO open? The IPO is to open on 24 March 2026 for QIB, NII, and Retail Investors. |
| What is Sai Parenteral’s IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the Sai Parenteral’s IPO Size? Sai Parenteral’s IPO size is ₹408.79 Crore. |
| What is the Sai Parenteral’s IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 38 Shares with ₹14,896, while the maximum bid is 494 Shares with ₹1,93,648. |
| What is the Sai Parenteral’s IPO Allotment Date? Sai Parenteral’s IPO allotment date is 30 March 2026. |
| What is the Sai Parenteral’s IPO Listing Date? Sai Parenteral’s IPO listing date is 02 April 2026. The IPO is to be listed on the BSE and the NSE. |
