Sai Parenteral's share price today: Shares of Sai Parenteral's Ltd, a diversified pharmaceutical formulation company, made a positive debut on Dalal Street on Thursday, April 2. The counter started trading at ₹405, up ₹13, or 3.32 per cent, on the BSE as against the IPO issue price of ₹392.
On the NSE, the Sai Parenteral stock opened at ₹400, up ₹8, or 2.04 per cent, compared with the issue price.
The company's market capitalisation stood at ₹1,767.17 on listing, according to BSE data.
The positive listing of Sai Parenteral's shares defied the grey market trend, in which the counter traded almost flat.
Sai Parenteral's IPO details
The initial public offering of Sai Parenteral's was fully subscribed on the closing day of bidding on March 27 (Friday), helped by institutional investors. The IPO received bids for 78,80,972 shares as against 75,22,486 shares on offer, translating into 1.05 times subscription, as per NSE data.
The category for NIIs received 2.36 times subscription, while the quota for QIBs got subscribed 1.71 times. Retail investors' portion was booked 12 per cent.
Sai Parenteral's IPO comprised of a fresh issue of up to ₹285 crore and an offer-for-sale (OFS) of up to nearly 31.57 lakh equity shares. The issue was offered in a price band of ₹372 to 392 per share, with a lot size of 38 shares worth ₹14,896. The IPO opened for subscription on March 24 and closed on March 27.
Ahead of the IPO, Sai Parenteral's had garnered ₹122.63 crore from anchor investors. The Hyderabad-based company had allotted 31,28,485 equity shares to Morgan Stanley Asia (Singapore) Pte Ltd, Kotak Lifesciences Fund, Quant Mutual Fund, Kotak Mahindra Life Insurance Company and India Emerging Giants Funds Ltd in the anchor round.
Sai Parenteral's has said that the proceeds from the fresh issue will support the firm's expansion, particularly in strengthening its global formulations business and expanding its Contract Development and manufacturing organisation capabilities across both injectable products and oral solid dosage formulations.