Upcoming IPOs: Sai Parenteral Limited and Hella Infra Market received the final nod from the capital markets regulator, the Securities and Exchange Board of India (Sebi), for their initial public offerings (IPOs).

Telangana-based Sai Parenteral filed its draft papers with Sebi on 30 September 2025. The IPO includes a fresh issue of around ₹285 crore and an offer-for-sale up to 35,00,000 shares, which are being sold by investors such as Vikasa India EIF I Fund, Tilokchand Punamchand Ostwal, Devendra Chawla, Bhanwar Lal Chandak, Sreelekha Ganta, Padma Guntupalli, Vijay Gondi, Ideas and Journeys Private Limited, Bhautik Mukund Shah and Nilesh Pravinchandra Doshi, the company said.

Meanwhile, Hella Infra Market filed draft papers with Sebi through a confidential route, and the details are not made public.

How does Sai Parenteral plan to use the funds?

According to Sai Parenteral, the company plans to use proceeds from the public offer of over ₹100 crore for capacity expansion and to upgrade manufacturing facilities. Around ₹18 crore will utilised to establish a new R&D centre, ₹20 crore will be allocated for repayment or prepayment of certain outstanding borrowings, ₹33.3 crore will cover working capital needs, and ₹36 crore will be invested in the wholly owned subsidiary, Sai Parenteral’s Pte Limited (Singapore), related to the proposed acquisition of Noumed Pharmaceuticals Pty Limited (Australia). Additionally, funds will be allocated for general corporate purposes, the company said.

About Sai Parenteral

Sai Parenteral is a pharmaceutical formulation company that focuses on research, development, and manufacturing. It engages in the business of branded generic formulations, contract development and manufacturing organisation (CDMO) products and services for the domestic and international markets.

The company’s portfolio includes formulation products across various therapeutic segments, including cardiovascular, neuropsychiatry, anti-diabetic, respiratory health, antibiotics, gastroenterology, vitamins, minerals and supplements (VMS), analgesics, and dermatology, providing various dosage forms such as injectables, tablets, capsules, liquid orals, and ointments.

In the injectables section, the company focuses on sterile manufacturing for critical care and penicillin-based therapies, providing delivery systems such as dry powder injections, pre-filled syringes, ampoules, and vials.

The company manufactures and sells Branded Generic Formulations to customers, which include central and state government agencies, pharmaceutical companies, public and private hospitals, and others

It began its export activities in the 2023 fiscal year following the acquisition of two manufacturing facilities in Hyderabad, Telangana. It supplies products to regulated and semi-regulated markets across Australia, New Zealand, Southeast Asia, the Middle East, and Africa via distributors.

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