Sai Parenterals gets SEBI nod for ₹425 crore IPO
Sai Parenterals Limited (SPL), a pharmaceutical formulations company, just got SEBI's green light for its ₹425 crore IPO.
The offering includes a fresh issue of up to ₹285 crore and an offer-for-sale of 35 lakh shares by existing investors.
SPL will use the IPO money to upgrade its plants
The IPO money will go toward upgrading manufacturing plants, setting up a new R and D center, paying off some debt, and boosting working capital.
SPL is also putting ₹36 crore into its Singapore arm to help acquire Australia's Noumed.
SPL runs 5 manufacturing plants in India
SPL makes branded generics and offers contract manufacturing services (think injectables, tablets, capsules, liquids, and ointments) for things like heart disease, diabetes, and infections.
They run five plants in India with strong global certifications.
After recently buying most of Noumed in Australia for ₹125 crore, they expect this move to boost revenue.
The IPO is scheduled to open on March 24, 2026.