Sai Parenteral IPO: Offer just 4% subscribed so far
Sai Parenteral just kicked off its IPO, but the response so far has been pretty muted; only 4% of shares were picked up on day one.
The company is hoping to raise ₹409 crore, with the offer open until March 27.
Retail investors barely showed up
Retail investors barely showed up, subscribing to just 3% of their portion, while non-institutional investors reached 15%.
With no buzz in the gray market and most of the action still missing, it looks like folks are waiting to see if things pick up before jumping in.
Funds will help expand manufacturing, set up new R and D center
If fully subscribed, the funds will help expand manufacturing, set up a new R and D center, and cover working capital needs.
Despite slow IPO traction, analysts say Sai Parenteral's recent revenue jump, from ₹154 crore in FY24 to ₹495 crore in FY25, could make it worth a look for long-term investors.
Shares are priced at ₹372 to ₹392 each.