Sai Parenterals IPO fully subscribed: GMP, key details
Sai Parenterals just wrapped up its ₹409-crore IPO, and it was fully subscribed, mostly because institutional and big-ticket investors showed strong interest.
Retail investors barely joined in, subscribing to only about 11% of their portion.
The company had already pulled in over ₹122 crore from anchor investors before the main sale even began.
About the issue
The IPO included a fresh issue of up to ₹285 crore and shares sold by existing stakeholders.
Shares were priced between ₹372 and ₹392 each, with a minimum bid set at 38 shares.
Net proceeds from the fresh issue will be used to strengthen its global formulations business and enhance its CDMO (Contract Development and Manufacturing Organisation) capabilities, including scaling injectable and oral solid dosage manufacturing.