Sai Parenterals gets SEBI nod for Rs 425-cr IPO

Sai Parenterals Limited, a leading pharmaceutical formulations company, has received approval from the Securities and Exchange Board of India (SEBI) for its proposed Initial Public Offering (IPO), marking a key milestone in the company’s growth journey.

The proposed IPO comprises a fresh issue of equity shares aggregating up to Rs285 crore and an Offer for Sale (OFS) of up to 3.5 million equity shares by existing shareholders. Through the combined issue, the company is expected to raise nearly Rs425 crore.

According to the company, proceeds from the fresh issue will be utilised to support its expansion plans, strengthen manufacturing capabilities and meet general corporate purposes. The public issue, subject to market conditions and regulatory clearances, is expected to open in the third week of February. The equity shares are proposed to be listed on both the BSE and the National Stock Exchange (NSE).

Commenting on the development, a spokesperson for Sai Parenterals said that receiving SEBI approval represents a significant milestone. “The proposed IPO will enable us to further strengthen our operations, enhance manufacturing capacity and pursue our long-term strategic objectives,” the spokesperson said.

The company added that further details, including the price band, issue dates and other offer-related information, will be announced in due course.