Sai Parenteral’s IPO GMP Today: Market observers report that Sai Parenteral’s shares are trading at par in the grey market today, March 26, indicating a GMP of ₹0.
IPO Status Update: The initial public offering (IPO) of Sai Parenteral’s, a diversified pharmaceutical formulations company, which opened for subscription on March 24, is set to close today, March 26. By the end of Day 2, the issue remained weakly subscribed.
Key IPO Details:
- Price Band: ₹372 to ₹392 per share
- Total IPO Size: ₹409 crore, comprising a fresh issue of ₹285 crore and an offer for sale (OFS) of ₹124 crore.
- Expected Allotment Date: March 28, 2026 (potentially delayed to March 30 due to the weekend).
- Tentative Listing Date: April 2, 2026
- Listing Exchanges: BSE and NSE
Subscription Status (As of 10:12 AM, March 26):
- Total Subscription: 0.42 times
- Retail Portion: 0.06 times
- Non-Institutional Investors (NII): 1.05 times
- Qualified Institutional Buyers (QIB): 0.60 times
Brokerage Insights:
Ashika Research recommends subscribing to the IPO for long-term investors with a 2-3 year horizon, citing a fair value of approximately ₹700 per share based on FY30 EBITDA of ₹305 crore at an 18x EV/EBITDA multiple. Investors seeking near-term earnings visibility are advised to await post-listing price discovery. The company’s management has demonstrated strong capital allocation, with efficient integration of acquisitions and targeted growth catalysts including EU-GMP certifications, a Philippines CDMO contract, and new dossier filings.Should You Apply?
Based on current data, the IPO has received a weak response, with subscription at 0.42 times. However, brokerage Ashika Research suggests a “subscribe” recommendation for long-term investors. The GMP of ₹0 indicates a potential listing price close to the upper end of the IPO price band.Important Dates:
- Subscription Closes: March 26, 2026
- Expected Allotment: March 28, 2026 (potentially delayed)
- Tentative Listing: April 2, 2026
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