SAI Parenterals files RHP, sets Rs 372–`392 price band for IPO

SAI Parenterals Limited (SPL), a diversified pharmaceutical formulations company, has filed its Red Herring Prospectus (RHP) with the Securities and Exchange Board of India, the Registrar of Companies in Hyderabad, and stock exchanges including the National Stock Exchange and Bombay Stock Exchange for its proposed Initial Public Offering (IPO).

The IPO comprises a fresh issue of equity shares worth up to Rs2,850 million along with an offer-for-sale (OFS) of up to 3,157,880 equity shares by existing investor shareholders. Notably, none of the promoters or promoter group entities will participate in the OFS.

The public issue is scheduled to open on March 24, 2026, and close on March 27, 2026. The company has fixed a price band of Rs372–Rs392 per equity share, with a face value of Rs5 per share.

The allocation structure reserves up to 50 per cent for Qualified Institutional Buyers (QIBs), at least 35 per cent for retail investors, and a minimum of 15 per cent for Non-Institutional Buyers (NIBs). Arihant Capital Markets Limited is acting as the Book Running Lead Manager, while Bigshare Services Private Limited has been appointed as the registrar to the issue.

Commenting on the development, Chairman and Managing Director Anil KK said the IPO marks a significant milestone in the company’s growth journey.

He highlighted that the proceeds from the issue will be deployed to strengthen the company’s global formulations business and expand its Contract Development and Manufacturing Organization (CDMO) capabilities across injectable and oral solid dosage segments.

The company has been focusing on innovation-led growth, strengthening its intellectual property portfolio, and enhancing manufacturing capabilities to cater to regulated international markets.