Sai Parenteral’s IPO Price Band Set at ₹372 to ₹392 per Share, Targets ₹285 Crore Fresh Issue
Company Files RHP with SEBI and Stock Exchanges
Sai Parenteral’s Ltd, a diversified pharmaceutical formulation company, has announced the price band for its upcoming Initial Public Offering, setting it at ₹372 to ₹392 per equity share.The Hyderabad-based company has filed its Red Herring Prospectus with the Securities and Exchange Board of India along with the National Stock Exchange and the Bombay Stock Exchange for the proposed public issue.
IPO Structure and Listing Plans
The IPO comprises a fresh issue of up to ₹285 crore and an offer for sale of nearly 32 lakh equity shares.The company plans to list its equity shares on both the NSE and BSE, expanding its presence in the public markets.
RHP Availability Across Platforms
According to the company, the Red Herring Prospectus is available on the official websites of SEBI, BSE, NSE, as well as on the websites of the book running lead managers and the company.Proceeds to Fuel Expansion and CDMO Capabilities
Commenting on the development, Chairman and Managing Director Anil KK said the proposed IPO marks a significant milestone in the company’s growth journey.He stated that the offering reflects the progress achieved by the company and provides an opportunity to accelerate its strategic objectives.
The proceeds from the IPO are planned to be utilized for expanding the company’s global formulations business and enhancing its Contract Development and Manufacturing Organisation capabilities. The focus areas include both injectable products and oral solid dosage formulations.
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