New Delhi, March 25 -- The initial public offering (IPO) of Sai Parenteral's, a diversified pharmaceutical formulations company, which opened for subscription on March 24 will close tomorrow, March 26. By the end of the day, the issue was subscribed just 0.05 times.

The issue has fixed a price band in the range of Rs.372-392 for the issue. The allotment status for the Sai Parenteral's IPO is slated to be finalised on March 30, with the tentative listing date set for April 2.

Investor sentiment toward the IPO is muted, as Sai Parenteral's grey market premium (GMP) is Rs.0 on March 25. This suggested that the stock was likely to debut at Rs.392, same as the IPO price.

'Grey market premium' indicates investors' readiness to pay more than ...