Sai Parenteral IPO Allotment: Check Date, Step-By-Step Guide To Verify Status

The initial public offering (IPO) of Sai Parenteral was subscribed 1. 05 times on the third and final day of bidding on March 27. The IPO received bids for 78,80,972 shares against 75,22,486 offered.

The Qualified Institutional Buyers (QIBs) booked the issue 1. 71 times. The Non-Institutional Investors' (NIIs) category was subscribed 2. 36 times. Retail investors booked their quota 0. 12 times.

The price band for the IPO was set at Rs 372 to Rs 392 per share. The Sai Parenteral IPO was a book build issue of Rs 408. 79 crore.

It comprised a fresh issue of 73 lakh shares worth Rs 285 crore and an offer-for-sale (OFS) of 32 lakh shares amounting to Rs 123. 79 crore. Allotment of shares is expected to be finalised on March 30.

The company will transfer shares to the demat accounts of successful bidders on April 1, and refunds for non-allottees will be done on the same day. The shares of the company are scheduled to list on the BSE and NSE on April 2.

ALSO READ | GMP Today: Amir Chand Jagdish Kumar IPO Vs Powerica IPO Vs Sai Parenteral IPO - What Grey Market Hints On Day 3Sai Parenterals operates as a diversified pharmaceutical formulations firm, with capabilities spanning research, development and manufacturing.

Its business is structured around two primary segments: branded generic formulations and Contract Development and Manufacturing Organisation (CDMO) services.

The company will use proceeds from the IPO for capacity expansion and upgradation of manufacturing facilities, establishment of a research and development (R&D) centre, clearing debt, meeting working capital requirements, investing in its wholly owned subsidiary, and for general corporate purposes.