Sai Parenteral IPO Day 2: Tepid Subscription, Zero GMP Signals Weak Investor Sentiment

Sai Parenteral, a pharmaceutical formulations company, launched its ₹408.79 crore IPO with a price band of ₹372–392 per share. Despite its diversified portfolio, the IPO has failed to attract strong demand so far, raising concerns about its market debut.

Subscription Status And GMP
By the end of Day 2, the IPO was subscribed only 0.05 times, reflecting tepid participation across investor categories. The GMP remains at ₹0, suggesting no premium in the unofficial market and signaling limited listing gains.

Issue Details And Timeline
The IPO comprises a fresh issue of 0.73 crore shares and an offer for sale of 0.32 crore shares. Retail investors can bid for a minimum lot of 38 shares worth ₹14,896. The allotment is scheduled for March 30, with tentative listing on BSE and NSE on April 2.

Key Highlights

• IPO size: ₹408.79 crore
• Price band: ₹372–392 per share
• GMP: ₹0 as of March 25, 2026
• Subscription: 0.05 times by Day 2
• Allotment date: March 30, 2026
• Listing date: April 2, 2026

Sources: Mint, Univest