Sai Parenteral's IPO: A Dose of Success

Sai Parenteral's initial public offering (IPO) was fully subscribed on its final bidding day, driven largely by institutional investors. Bids were made for 78,80,972 shares compared to the 75,22,486 available, resulting in a 1.05 times subscription, according to data from the National Stock Exchange (NSE).

The IPO saw non-institutional investors subscribing 2.36 times their quota, while the Qualified Institutional Buyers' (QIBs) segment was subscribed 1.71 times. However, the portion allocated to retail investors was only 12% covered. Earlier, the company raised over Rs 122 crore from anchor investors.

The IPO includes a fresh issue valued up to Rs 285 crore and an offer-for-sale of nearly 31.57 lakh shares. Priced between Rs 372-392 per share, the funds will aid Sai Parenteral in expanding its global formulations business and boosting manufacturing capabilities for injectables and oral solid dosage forms.