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Open Date
Mar 24, 2026
Close Date
Mar 27, 2026
Min Investment
₹14,896
Lot Size
38 Shares
Issue Size
₹408.79 Cr
Price Range
₹372 - ₹372
Listing Date
Apr 2, 2026
Established in 2001, Sai Parenteral's Ltd. is a diversified pharmaceutical formulations company with expertise in research and development and manufacturing. The company has two business segments: Branded Generic Formulations and Contract Development and Manufacturing Organisation (CDMO) products and services. The company’s product portfolio covers a wide spectrum of pharmaceutical formulations in various therapeutic areas such as cardiovascular, neuropsychiatry, anti-diabetic agents, respiratory health, antibiotics, gastroenterology, vitamins, minerals, and supplements (VMS), analgesics, and dermatology in various dosage forms such as injectables, tablets, capsules, liquid orals, and ointments. The company’s customer base comprises central and state government departments, pharmaceutical companies, public and private sector hospitals, and super stockists across India. Sai Parenteral’s started its export business in FY 2023 after acquiring two international accredited facilities in Hyderabad, Telangana, and currently serves regulated and semi-regulated markets such as Australia, New Zealand, Southeast Asia, Middle East, and Africa. The company has five manufacturing facilities in India. Four are located in Hyderabad, Telangana. These are a GMP compliant injectable facility, a WHO-GMP injectable facility, a TGA-Australia and PIC/S accredited solid oral dosage facility, and a WHO-GMP cephalosporin facility. The company’s wholly owned subsidiary has a GMP certified facility located in Ongole, Andhra Pradesh. As of August 31, 2025, Sai Parenteral's Ltd. had 277 full-time employees.
Sotefin Bharat
| Companies Name | Open - Close | Issue Size | Min. Qty | Issue Price | Apply |
|---|---|---|---|---|---|
Sotefin Bharat SME | 16th Jul 2026 - 20th Jul 2026 | 89.76 Cr | 600 Shares | ₹ 178.00 | |
Caliber Mining & Logistics Mainboard | 17th Jul 2026 - 21st Jul 2026 | 450.00 Cr | 35 Shares | ₹ 402.00 |
IPO Doc
RHP PDFRevenue Growth
Company Valuation
Earning Expansion
The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily.
₹110.80 cr for capacity expansion and facility upgrade. The company will use ₹18.02 crore for the establishment of a new R&D centre. ₹14.30 cr for company loan and ₹35.64 cr for subsidiary bridge loan repayment. The company will use ₹33 crore for the working capital requirements of the business. Part of the IPO proceeds will be used for general corporate purposes and issue expenses.
Capacity expansion
38.8%
Establishment of R&D Centre
6.3%
Repayment of loan
17.5%
Working capital
11.5%
General corporate purposes
25.9%
₹110.80 cr for capacity expansion and facility upgrade.
The company will use ₹18.02 crore for the establishment of a new R&D centre.
₹14.30 cr for company loan and ₹35.64 cr for subsidiary bridge loan repayment.
The company will use ₹33 crore for the working capital requirements of the business.
Part of the IPO proceeds will be used for general corporate purposes and issue expenses.
Times subscribed by category (bars capped at 10x for readability). Dashed line marks 1.0x (fully subscribed).
In Cr.
| Key Performance Indicator | 30-Sep-25 (In Cr.) | 31-Mar-25 (In Cr.) | 31-Mar-24 (In Cr.) | 31-Mar-23 (In Cr.) |
|---|---|---|---|---|
| Revenue | 89.43 | 163.74 | 155.18 | 97.03 |
| EBITDA | 16.24 | 39.44 | 31.70 | 17.64 |
| Expenses | ||||
| Profit After Tax | 7.76 | 14.43 | 8.42 | 4.38 |
| Assets | 376.24 | 272.39 | 268.10 | 133.96 |
| Net Worth | 209.37 | 95.78 | 76.40 | 31.49 |
| Reserves | 188.84 | 80.36 | 61.30 | 24.34 |
| Borrowing | 76.07 | 93.95 | 118.79 | 68.55 |
Anil Kumar Karusala
Vijitha Gorrepati
Karusala Aruna
N/A
N/A
Sai Parenteral's
Plot No 39, 5th Floor, Lavanya Arcade, Jayabheri Enclave, Gachibowli, K.V. Rangareddy, Seri Lingampally, Hyderabad, Telangana - 500032.
Bigshare Services Pvt.Ltd.
In FY25, institutional sales accounted for approx 35.68% of total revenue. The Company's participation in governmental tenders, as well as PMBJP and ESI hospitals, has supported this success. As further support for this revenue stream, the Company has established a pan-Indian super stockist network that facilitates entry into both semi-urban and rural markets.
With the company's CDMO capability supported by 55 in-house dossiers (including 14 tech-transfer dossiers), in addition to access to 451 dossiers acquired through the acquisition of Noumed Pharmaceuticals. Furthermore, many of the existing company's CDMO engagements are supported by multi-year supply agreements, providing revenue visibility.
The company intends to use the proceeds from its IPO to expand and upgrade Units I and II located in Jeedimetla, which will require the complete suspension of operations of both units for a period of ~6 months. The company anticipates a potential revenue impact of ~₹42.20 crores during this period. There are plans to increase production from Unit III but there is no assurance that the increased production from Unit III will fully offset the expected revenue loss.
The company operates under extensive regulation from bodies including the DCA, Drugs Control Administration, Central Narcotics Commissioner, and CDSCO. Any inspection resulting in observations or sanctions could lead to withdrawal of manufacturing approvals, product recall, or suspension of operations.
The company has had negative operating cash flows for 3 of the 4 most recently reported periods of time with ₹(66.01) crore for H1FY26, ₹(29.76) crore for FY24 and ₹(12.80) crore for FY23. Typically, this has resulted due to an increase in the amount of accounts receivable and business holding inventory.