New Delhi, March 25 The initial public offering of Sai Parenteral's Ltd, a diversified pharmaceutical formulation company, saw 41 per cent subscription on the second day of the share sale on Wednesday.
The IPO received bids for 30,82,788 shares against 75,22,486 shares on offer, according to details available with the NSE.
The category for non-institutional investors was subscribed 1.01 times. The portion for Qualified Institutional Buyers (QIBs) received 60 per cent subscription, and the Retail Individual Investors (RIIs) portion fetched 5 per cent bidding.
Sai Parenteral's Ltd garnered over Rs 122 crore from anchor investors on Monday.
The company's public offering will conclude on March 27.
The IPO has a fresh issue of up to Rs 285 crore and an offer-for-sale of up to nearly 31.57 lakh equity shares. The price band has been fixed at Rs 372-392 per share.
Proceeds from the IPO will support the firm's expansion, particularly in strengthening its global formulations business and expanding its Contract Development and manufacturing organisation capabilities across both injectable products and oral solid dosage formulations.