Sai Parenteral's IPO: The initial public offering of diversified pharmaceutical formulation company Sai Parenteral's Ltd has been subscribed 58% so far on the last day of bidding on Friday, March 27.
The IPO secured bids for 43,32,304 shares compared to 75,22,486 shares on offer, according to the details available with the NSE until 1:23 pm.
The quota for non-institutional investors (NIIs) was subscribed 1.38 times. The part for qualified institutional buyers (QIBs) got 84% subscription, and the retail portion attracted 9% bidding.
The ₹408.79 crore IPO has a fresh issue of shares aggregating up to ₹285 crore and an offer-for-sale of ₹123.79 crore. With a price band of ₹372 to ₹392 per share, a lot consists of 38 shares.
Under the OFS, Vikasa India EIF I Fund, Devendra Chawla, Tilokchand Punamchand Ostwal, Ashish Maheshwari, Bhanwar Lal Chandak, Sreelekha Ganta, Vijay Gondi, Bhautik Mukund Shah, Padma Guntupalli and Nilesh Pravinchandra Doshi will offload their stake.
Proceeds from the fresh issue will support the company's expansion, particularly in strengthening its global formulations business and expanding its contract development and manufacturing organisation (CDMO) capabilities across both injectable products and oral solid dosage formulations.
Sai Parenteral's is a diversified pharmaceutical formulations firm with capabilities in research, development and manufacturing. It is in the business of branded generic formulations and CDMO products and services for the domestic and international markets.
Sai Parenteral's IPO: Allotment and listing date
The basis of allotment of Sai Parenteral's IPO is likely to be finalised on March 30. The stock market debut will take place on April 2.
Amir Chand Jagdish Kumar IPO Day 3:Check subscription status, allotment date and steps
How to check Sai Parenteral's IPO allotment status on NSE
- Open this link: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
- Select 'Equity & SME IPO bid details'
- Pick 'SAIPARENT' from the 'Select Symbol' list
- Fill in your PAN card details and application number
- Hit the submit button
Steps to check Sai Parenteral's IPO allotment status on Bigshare Services
- On the Bigshare Services website, open the allotment status page: www.bigshareonline.com/ipo_Allotment.html
- From three servers, choose any one
- Click on 'Sai Parenteral's Ltd' from the list
- Add either your application number, PAN or beneficiary ID
- Press the 'Search' button to check the allotment status
Sai Parenteral's IPO GMP
According to investorgain.com and media reports, the unlisted shares of Sai Parenteral's are trading at ₹392, reflecting a grey market premium (GMP) of 0% compared to the upper price band of ₹392.