Sai Parenteral’s IPO Receives 4% Subscription on First Day
New Delhi, March 24 – The initial public offering (IPO) of Sai Parenteral’s Ltd, a diversified pharmaceutical formulation company, received a 4% subscription on Tuesday, the first day of bidding.Initial Bidding Figures
According to data from the National Stock Exchange (NSE), the IPO garnered bids for 3,35,350 shares against a total offer of 75,22,486 shares.Category-Wise Subscription
The non-institutional investor category saw a 15% subscription rate, while Retail Individual Investors (RIIs) received a 3% subscription.Anchor Investor Funding
Sai Parenteral’s Ltd secured over Rs 122 crore from anchor investors on Monday.IPO Details
The public offering, which concludes on March 27, includes a fresh issue of up to Rs 285 crore and an offer-for-sale of up to 31.57 lakh equity shares. The price band has been set at Rs 372 per share to Rs 392 per share.Use of Proceeds
Proceeds from the IPO will be utilized to support the company’s expansion, specifically focusing on strengthening its global formulations business and expanding its Contract Development and manufacturing organization capabilities across both injectable products and oral solid dosage formulations.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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