Sai Parenteral’s IPO
Market Sentiment
Market Lot Size
IPO Details
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Financial Analysis
| Metric | 2023 | 2024 | 2025 | Sep 2025 |
|---|---|---|---|---|
| Revenue | 97.03 | 155.18 | 163.74 | 89.43 |
| Expense | 89.78 | 142.63 | 143.84 | 78.27 |
| Profit (PAT) | 4.38 | 8.42 | 14.43 | 7.76 |
| Total Assets | 133.96 | 268.10 | 272.39 | 376.24 |
| Company | P/E | EPS | Market Cap (Cr) |
|---|---|---|---|
| Sai Life Sciences Limited | 107.70 | 8.83 | 8 |
| InnovaCaptab Limited | 32.45 | 22.41 | 13 |
| Senores Pharmaceuticals Limited | 64.30 | 16.12 | 7 |
| Gland Pharma Limited | 44.71 | 42.40 | 8 |
| Industry Average | 62.29 | - | - |
Promoters: Anil Kumar Karusala, Vijitha Gorrepati and Karusala Aruna
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 3,69,08,823 | 61.23% |
Company Information
Sai Parenteral’s Ltd., founded in 2001, is one of the leading pharmaceutical companies focused on R&D and manufacturing of pharmaceutical products. The firm operates in 2 main business areas: makes and sells its own branded medicines, and also manufactures medicines for other companies internationally. Its product offerings include a wide range of medicines for various health conditions, like cardiovascular, neuropsychiatry, anti-diabetic, respiratory health, antibiotics, gastroenterology, vitamins, minerals, and supplements (VMS), analgesics, and dermatology. Its medicines are available in various forms like tablets, injections, and syrups. Sai Parenteral’s major clients are government agencies, pharmaceutical companies, public and private hospitals, and large distributors in India. The firm operates 5 manufacturing facilities in India, mainly located in Hyderabad, known for developing medicines with international quality certifications.
| Purpose | Amount (Cr) |
|---|---|
| Capacity expansion and upgradation of manufacturing facilities | 110.80 |
| Establishment of a new R&D Centre; | 18.02 |
| Repayment / prepayment of certain outstanding borrowings | 20.00 |
| 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); and | 36.00 |
| General corporate purposes | - |
Resources & Documents
Sai Parenteral’s Ltd., Plot No 39, 5th floor, Lavanya Arcade, Jayabheri Enclave, Gachibowli, K.V.Rangareddy, Seri Lingampally, Hyderabad, Telangana, 500032
Sai Parenteral’s has set a price band of Rs 372–Rs 392 per share for an issue size of Rs 409 crore. The stock listed with a 3.32% gain versus its issue price on April 02, 2026.
Sai Parenteral’s Ltd., founded in 2001, is one of the leading pharmaceutical companies focused on R&D and manufacturing of pharmaceutical products. The firm operates in 2 main business areas: makes and sells its own branded medicines, and also manufactures medicines for other companies internationally.
The issue is promoted by Anil Kumar Karusala, Vijitha Gorrepati and Karusala Aruna with Arihant Capital Markets Ltd. acting as lead manager. Net proceeds will primarily be used towards Capacity expansion and upgradation of manufacturing facilities (Rs 111 crore) and Establishment of a new R&D Centre; (Rs 18 crore).
Final subscription data records overall subscription at 1.05x, retail at 0.12x, QIB at 1.71x, NII at 2.36x.
On fundamentals, the company is posting revenue growth of 5.5%, a profit margin of 8.8%, return on equity of 15.1% in its most recent reported period. Listed peers in this segment include InnovaCaptab Limited (P/E 32.45x, market cap Rs 13 crore) and Sai Life Sciences Limited (P/E 107.70x, market cap Rs 8 crore) — useful reference points when evaluating the issue's pricing relative to where the broader sector are trading.
Our data-driven engine currently flags this issue as an Avoid view — key indicators are weak enough that the risk-reward looks unfavourable for now. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Understanding Grey Market Premium (GMP)
The Grey Market Premium (GMP) is an unofficial indicator of how an IPO's shares are trading in the grey market before they are officially listed on a stock exchange. It reflects investor sentiment and demand for the IPO shares ahead of listing day.
How does it work? The grey market is an informal, over-the-counter market where investors buy and sell IPO shares before the official listing date. If an IPO has a positive GMP, it suggests that investors expect the stock to list above its issue price. A negative GMP indicates expectations of a listing below the issue price.
Example: If an IPO has an issue price of ₹100 and the GMP is ₹50, the expected listing price would be approximately ₹150 (issue price + GMP). This translates to an estimated listing gain of 50%.
Factors that influence GMP:
- Subscription levels — Higher subscription typically drives GMP up
- Market conditions — Bullish markets tend to boost GMP across all IPOs
- Company fundamentals — Strong financials and growth potential attract premium
- Industry sentiment — Positive outlook for the sector can increase demand
- IPO pricing — Reasonably priced IPOs relative to peers tend to command higher GMP
Disclaimer: GMP is an unofficial metric from the grey market and is not regulated by SEBI or any stock exchange. GMP values fluctuate frequently and should not be the sole basis for investment decisions. Always consider company fundamentals, financial health, and your own risk appetite before investing in any IPO.
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