Sai Parenterals shares debut above issue price, nearly 5.8% higher
Business
Sai Parenterals just kicked off its stock market journey with a solid start: shares opened above their issue price at ₹405 on BSE and ₹400 on NSE, giving early investors a quick 3% and 2% bump, respectively.
The stock even climbed to ₹415 during the day, ending up nearly 5.8% higher than its issue price.
Sai Parenterals IPO draws ₹122cr+ anchors
The company's ₹409 crore IPO got decent attention from big institutional and non-institutional investors, but regular retail folks mostly sat this one out.
Anchor investors chipped in over ₹122 crore before the IPO even opened.
Sai Parenterals plans to use the funds to boost its manufacturing game globally, especially for injectables and oral medicines.