Sai Parenteral’s: From Domestic to Global IP-Led Platform

Key Highlights

• Transitioned from a domestic formulations player to a global formulations platform led by IP
• 451+ TGA-approved product registrations through Noumed acquisition
• Presence across regulated and semi-regulated markets
• Proforma revenue of ₹508 crore (FY25), with ~20% growth to ₹610 crore (annualised H1 FY26)
• IPO size of ₹408.79 crore including ₹285 crore fresh issue and ₹123.79 crore in OFS
• Integrated capabilities across development, manufacturing, and regulatory

In the evolving pharmaceutical landscape, value is shifting toward companies embedded in global supply chains rather than standalone domestic manufacturers. Sai Parenteral’s Limited reflects this shift—transitioning into an emerging CDMO platform with growing global integration.

What began as a small-scale injectables business has, over less than a decade, scaled through disciplined execution and a clear pivot toward export markets. The Company has built end-to-end capabilities across development and manufacturing, supported by regulatory-approved facilities and a growing portfolio of product registrations in regulated markets.

A key inflection point came with the acquisition of Australia-based Noumed in November 2025. This provides access to the ~$2.5 billion Australia and New Zealand market and 451 TGA-approved product registrations, enhancing control over manufacturing, pricing and geographic expansion.

Sai Parenteral’s IPO is open from March 24 to March 27. The issue size is ₹408.79 crore including ₹285 crore fresh issue and ₹123.79 crore in OFS from non-promoter shareholders.

Anil KK, Chairman & Managing Director, Sai Parenteral’s Limited, said:

“The IPO represents a milestone in our journey as we scale our global formulations and CDMO platform.”

Today, the Company has scaled to a proforma revenue base of ₹508 crore in FY25 (₹305 crore in H1 FY26), including ₹368 crore from CDMO, and serves customers across Australia, New Zealand, Southeast Asia, the Middle East and Africa.

The strategy ahead is largely a continuation of the same playbook — disciplined execution of the global platform the company has spent the past few years building.

The company is backed by marquee investors including Samarsh Capital (backed by Mr. Mohandas Pai), Dr. B. Bhaskara Rao (MD, KIMS Hospitals), Blue Lotus Capital, Polycab promoters, and Gruhas Proptech (backed by Mr. Nikhil Kamath and Mr. Abhijeet Pai).

Issue opens Mar 24, 2026 | Closes Mar 27, 2026 | Listing expected Apr 2, 2026