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Sai Parenterals IPO Day 3 Live: The initial public offering (IPO) of Sai Parenterals, a diversified pharmaceutical formulations company, which opened for subscription on March 24, will close today, March 26. According to Sai Parenterals IPO subscription status, by the end of Day 2, the issue remained weakly subscribed. According to market observers, the company's shares are trading at par in the grey market today. This means Sai Parenterals IPO GMP today is zero.

The IPO has fixed a price band of ₹372 to ₹392 per share. The allotment status for the issue is expected to be finalised on March 30, with the tentative listing date set for April 2. The public issue is proposed for listing on the BSE and the NSE. The public issue, a mix of fresh shares and an offer for sale (OFS), aims to raise ₹409 crore from this initial offer. Of these, ₹409 crore, the company aims to raise ₹285 crore through the issuance of fresh shares, while the remaining ₹124 crore is reserved for the OFS route.

The most likely Sai Parenterals IPO allotment date is 28 March 2026. However, as Saturday falls on 28 March, the company may delay finalising the share allocation to Monday, i.e., 30 March 2026.

Arihant Capital Markets Ltd has been appointed the book-running lead manager, and Bigshare Services Pvt.Ltd is the official registrar of the public issue.

Likewise, the most likely Sai Parenterals IPO listing date is 3rd March 2026, as two stock market holidays fall on 26 March 2026 and 31 March 2026.

The company's management has demonstrated disciplined capital allocation across four acquisitions, all of which have been integrated efficiently and ramped rapidly (Unit IV: 0.78% utilisation in FY23 to 39.5% in 1HFY26; Unit III: 24.8% to 87.3% over the same period). With EU-GMP certifications targeted by Jan’27, a Philippines CDMO contract guiding Rs100+cr from FY27, and 60 new dossier filings planned by FY28, the revenue inflexion is well-sequenced and catalyst-rich. We recommend subscribing at the cut-off price for long-term investors with a 2–3 year horizon. Fair value: ~Rs700/share on FY30 EBITDA of Rs305cr at 18x EV/EBITDA. Investors seeking near-term earnings visibility should await post-listing price discovery.

— Ashika Research

The public issue opened for bidding on 25 March 2026 and will remain open until 27 March 2026. This means investors have just one day to apply for the IPO.

By 10:12 AM on the third day of bidding, the public issue was subscribed 0.42 times, the retail portion was booked 0.06 times, the NII portion was filled 1.05 times, whereas the QIB segment was booked 0.60 times.Asit Manohar has nearly two decades of experience in the mainstream media. In this period, he has served esteemed media organisations like NDTV Profit, The Economic Times, and Zee Business. He has been working at LiveMint Digital since April 2021. During these two decades of journey in mainstream media, Asit has mainly covered external affairs, markets and personal finance. However, his earliest beats include railways, SME, MSME, and politics (Congress beat). Some of his features on political, economic, and foreign policy are documented in the parliamentary records.

While pursuing his MA (Mass Communication, Session 2004-06), Asit began his media career as a stringer at All India Radio in Varanasi. At AIR Varanasi, Asit worked with the Gyanvani, Yuvvani and Vividh Bharti teams. After working for nearly one year at AIR Varanasi, he shifted to print journalism and started working as a stringer for the HT Media Ltd, Varanasi. At HT Media Ltd in Varanasi, he covered the BHU beat.

Asit has also worked with some brokerage houses. He has worked with Religare Broking and India Infoline, where he assisted the research team in developing and executing trade strategies for intraday cash, F&O, and commodities.

Asit is a Gold Medalist in MA (Mass Communication) from BHU, Varanasi. He did his BSc. (Hons) in Mathematics from Magadh University, Bodh Gaya. Asit was a National Talent Scholarship holder during his senior secondary studies (1988-91).

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